DUBAI, United Arab Emirates,
June 15, 2015 /PRNewswire/
-- Ingram Micro Inc. (NYSE: IM) today announced that it
substantially completed the acquisition of the business assets of
Arabian Applied Technology, the largest value-added technology
distributor in Saudi Arabia. The
business will operate as Aptec Saudi Arabia and is a part of Ingram
Micro's META region (Middle East,
Turkey & Africa) led by Dr. Ali
Baghdadi, President of Ingram Micro in META. The
Saudi Arabia operation is expected
to contribute annual revenue of approximately $200 million and be modestly accretive to Ingram
Micro's earnings in 2015.
Aptec Saudi Arabia will offer a robust enterprise solutions
portfolio with products and solutions covering data center,
storage, security, networking and software categories including
technical services. Its staff has vast channel development
experience in the SMB market, credit services, training and other
professional offerings. Aptec Saudi Arabia will carry on the
collaborative culture and long-lasting customer and vendor
relationships under the experienced management team.
"The acquisition of the business of Arabian Applied Technology
in Saudi Arabia, is another
excellent addition to Ingram Micro's expanding presence in the
rapidly growing and higher value Middle
East market," said Alain Monié, Ingram Micro chief executive
officer. "Aptec Saudi Arabia will continue the leading operations
as a Value Added Distributor, and under Ingram Micro's leadership,
the company will be able to provide an even greater breadth of
services and solutions to its partners and customers to help them
realize the promise of technology across multiple technology
segments including Advanced Solutions, Mobility, Cloud,
Professional Services, Training and Supply Chain."
About Ingram Micro Inc.
Ingram
Micro helps businesses Realize the Promise of
TechnologyTM. It delivers a full spectrum of
global technology and supply chain services to businesses around
the world. Deep expertise in technology solutions, mobility, cloud,
and supply chain solutions enables its business partners to operate
efficiently and successfully in the markets they serve. More at
www.ingrammicro.com.
Cautionary Statement for the Purpose of the Safe Harbor
Provisions of the Private Securities Litigation Reform Act of
1995
The matters in this press release that are
forward-looking statements, including statements relating to the
expected benefits of the acquisition and the financial performance
of the company, are based on current management expectations.
Certain risks may cause such expectations to not be achieved and,
in turn, may have a material adverse effect on Ingram
Micro's business, financial condition and results of
operations. Ingram Micro disclaims any duty to update any
forward-looking statements.
Ingram Micro has
instituted in the past and continues to institute changes to its
strategies, operations and processes to address these risk factors
and seek to mitigate their impact on Ingram
Micro's results of operations and financial condition.
However, no assurances can be given that Ingram
Micro will be successful in these efforts. For a further
discussion of significant factors to consider in connection with
forward-looking statements concerning Ingram Micro, reference
is made to Item 1A Risk Factors of Ingram Micro's Annual
Report on Form 10-K for the fiscal year ended Jan. 3, 2015;
other risks or uncertainties may be detailed from time to time
in Ingram Micro's future SEC filings.
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SOURCE Ingram Micro Inc.