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Ingram Micro to Buy Brightpoint for $622 Million

Supply-chain-services provider Ingram Micro Inc. (IM) agreed to acquire wireless-equipment provider Brightpoint Inc. (CELL) for roughly $622 million as it looks to expand in the mobility market. Ingram will pay $9 a share, a 66% premium to Brightpoint's Friday close. Brightpoint shares surged 61% to $8.72 premarket. Brightpoint, which provides life-cycle services to wireless devices, had 69.1 million shares outstanding as of April 23. Ingram Micro, which expects to close the deal in the third quarter, said buying BrightPoint will create "a leading global provider of device lifecycle services and solutions for the mobility industry." Ingram Micro said it will realize annual cost synergies and efficiencies of more than $55 million by 2014, and expects the deal to add at least 18 cents to adjusted per-share earnings in 2013 and 35 cents in 2014. Separately, Brightpoint withdrew its full-year earnings guidance and forecast a second-quarter loss from continuing operations of two cents a share on revenue between $1.25 billion and $1.35 billion. Analysts surveyed by Thomson Reuters were expecting per-share earnings of 22 cents on $1.41 billion in revenue. Ingram Micro's shares closed Friday at $17.47 and were inactive premarket. The stock is down 6% in the last three months. Write to Chelsea Stevenson at chelsea.stevenson@dowjones.com Copyright (c) 2012 Dow Jones & Company, Inc.

Stock News for Ingram Micro A (IM)
DateTimeHeadline
08/11/201608:49:11Current Report Filing (8-k)
07/28/201616:46:28Quarterly Report (10-q)
07/28/201616:42:32Current Report Filing (8-k)
07/20/201616:20:00Tianjin Tianhai Delays Vote on Ingram Micro Deal
06/27/201608:05:00Active Equities to Watch in the Services Sector - The Interpublic...
06/24/201616:31:00Annual Report of Employee Stock Plans (11-k)
06/21/201616:17:21Current Report Filing (8-k)
06/08/201616:17:14Current Report Filing (8-k)
06/07/201611:52:35Statement of Changes in Beneficial Ownership (4)
06/07/201611:52:08Statement of Changes in Beneficial Ownership (4)
06/07/201611:51:13Statement of Changes in Beneficial Ownership (4)
06/07/201611:50:45Statement of Changes in Beneficial Ownership (4)
06/07/201611:50:17Statement of Changes in Beneficial Ownership (4)
06/06/201606:12:15Current Report Filing (8-k)
06/03/201618:42:54Statement of Changes in Beneficial Ownership (4)
06/03/201618:40:59Statement of Changes in Beneficial Ownership (4)
06/03/201618:40:03Statement of Changes in Beneficial Ownership (4)
06/03/201618:36:28Statement of Changes in Beneficial Ownership (4)
06/02/201616:39:53Additional Proxy Soliciting Materials (definitive) (defa14a)
05/30/201620:46:00China's HNA Group to Buy Stake in Virgin Australia -- Update

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