IRVINE, Calif., Oct. 13, 2015 /PRNewswire/ -- Ingram Micro Inc.
(NYSE: IM) today announced that it has entered into a definitive
agreement under which, subject to closing conditions detailed
below, Ingram Micro will acquire DOCdata Nederland B.V.
and DOCdata International B.V. ("Docdata"), the e-commerce
fulfillment business of publically-traded, Netherlands-based, DOCDATA N.V. (ENXTAM:
DOCD) for approximately $175 million. Docdata is
one of the leading European providers of order fulfilment, returns
logistics and online payment services, providing critical commerce
solutions to major retailers, brands and promising start-ups.
Docdata currently handles between 125,000 and 250,000 orders on a
daily basis, with major operations in Germany, Netherlands and the United Kingdom. The company is expected to
contribute in excess of $150 million in annual services
revenue to Ingram Micro and to contribute 5
to 7 cents to 2016 non-GAAP earnings per share.
Docdata will operate as a wholly owned subsidiary of Ingram
Micro. Docdata CEO Michiel Alting von Geusau will continue to
lead the company, reporting directly to Ken Beyer, Ingram
Micro executive vice president commerce and fulfillment solutions.
In addition to customary regulatory and other closing conditions,
the transaction requires approval of a majority of outstanding
shares at a special meeting of DOCDATA N.V. shareholders, which is
expected to take place toward the end of the 2015 fourth
quarter.
Ingram Micro CEO Alain Monié
commented, "Adding Docdata's broad-based suite of commerce
solutions to our existing portfolio of global services will bring
critical mass to our commerce and fulfillment solutions business in
Europe. Docdata is a
well-established e-commerce fulfillment company and is highly
respected by brands and retailers for its ability to deliver a
timely and cost-effective buyer experience. Docdata's solutions are
an excellent complement to our existing commerce and fulfillment
offerings, including our rapidly expanding Shipwire service
delivery platform. This acquisition is fully aligned with our
strategic objective to leverage Ingram Micro's broad geographic
reach and world class vendor and customer relationships, and we
expect to accelerate Docdata's ability to drive rapid expansion of
its services offerings across the continent and beyond. The Ingram
Micro team and I look forward to the opportunity to work closely
with Michiel and his world-class team."
Alting von Geusau added, "We are excited to partner with Ingram
Micro and believe this transaction delivers significant value to
our shareholders. I strongly believe Ingram Micro is the best
partner for our clients and employees going forward and I am
excited at the prospect of Docdata becoming a part of such a
globally recognized and respected company."
About Ingram Micro Commerce and Fulfillment Solutions
A global business unit of Ingram Micro, Commerce and Fulfillment
Solutions provides infrastructure to support the global growth of
brands and retailers. With 122 distribution centers across 38
countries and the power of an award-winning SaaS technology, we
provide order fulfillment, dropship and returns solutions with
access to the unique growth opportunities of one of the world's
leading technology solutions providers. More at
www.ingrammicrocommerce.com
About Ingram Micro Inc.
Ingram Micro helps businesses
realize the promise of technology. 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 within the meaning of the Private Securities Litigation
Reform Act, including statements relating to the expected benefits
from new wins and market position and our ability to enhance
revenues and earnings power, 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. Important risk factors that could cause actual results
to differ materially from those discussed in the forward-looking
statements include, without limitation: (1) changes in
macro-economic and geopolitical conditions can affect our business
and results of operations; (2) our acquisition and investment
strategies may not produce the expected benefits, which may
adversely affect results of operations; (3) we are dependent on a
variety of information systems, which, if not properly functioning,
and available, or if we experience system security breaches,
data protection breaches or other cyber-attacks, could
adversely disrupt our business and harm our reputation and net
sales; (4) the validity, subsistence and enforceability of the
patent portfolio that we currently hold or acquire may be
challenged, and we have a risk of being involved in
intellectual property disputes that could cause us to incur
substantial costs, divert the efforts of management or require us
to pay substantial damages or licensing fees;(5) failure to retain
and recruit key personnel would harm our ability to meet key
objectives; (6) we operate a global business that exposes us to
risks associated with conducting business in multiple
jurisdictions; (7) our failure to adequately adapt to industry
changes could negatively impact our future operating results; (8)
we continually experience intense competition across all markets
for our products and services; (9) termination of a key supply or
services agreement or a significant change in supplier terms or
conditions of sale could negatively affect our operating margins,
revenue or the level of capital required to fund our operations;
(10) substantial defaults by our customers or the loss of
significant customers could negatively impact our business, results
of operations, financial condition or liquidity; (11) changes in,
or interpretations of, tax rules and regulations, changes in the
mix of our business amongst different tax jurisdictions, and
deterioration of the performance of our business may adversely
affect our effective income tax rates or operating margins and we
may be required to pay additional taxes and/or tax assessments, as
well as record valuation allowances relating to our deferred tax
assets; (12) our goodwill and identifiable intangible assets could
become impaired, which could reduce the value of our assets and
reduce our net income in the year in which the write-off
occurs; (13) changes in our credit rating or other
market factors, such as adverse capital and credit market
conditions or reductions in cash flow from operations may affect
our ability to meet liquidity needs, reduce access to capital,
and/or increase our costs of borrowing; (14) we cannot predict the
outcome of litigation matters and other contingencies that we may
be involved with from time to time; (15) Our failure to comply with
the requirements of environmental regulations could adversely
affect our business; (16) we face a variety of risks in our
reliance on third-party service companies, including shipping
companies, for the delivery of our products and outsourcing
arrangements; (18) changes in accounting rules could adversely
affect our future operating results; and (19) our quarterly results
have fluctuated significantly and (20) the Docdata transaction may
not be consummated for several reasons, including failure to
receive approval by competent Competition authorities;
technology platforms providing similar and/or improved
functionalities and capabilities to Docdata may be launched,
developed or otherwise repurposed that may significantly impair the
competitiveness of our combined business and the value of our
investment; and we may not realize the anticipated business
synergies or earning accretion. Additionally, we risk failing
to realize the anticipated benefits of an acquisition due to, among
other things, the unsuccessful integration of the acquired
business. We face a variety of risks associated with our ability to
integrate Docdata into our existing systems and organization
including: management's ability to execute its plans,
strategies and objectives for future operations, including the
execution of integration plans; customer demand in these regions;
currency fluctuation; the potential for political unrest; potential
regulatory constraints; and our ability to achieve the
expected benefits and manage the costs of the transaction.
Further, despite its global presence, Ingram Micro may fail
to proactively identify and tap into emerging markets and
geographies. We have historically instituted, and will continue to
institute, changes to our strategies, operations and processes in
an effort to address and mitigate risks; however, there are no
assurances 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 our SEC filings, and specifically to
Item 1A-Risk Factors, of our latest Annual Report on Form
10K.
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SOURCE Ingram Micro Inc.