Ingram Micro to acquire BrightPoint for $840 million

Telecom Lead America: Ingram Micro is set to become the
leading provider of mobility products, services and solutions with the takeover
of BrightPoint.

Ingram Micro has inked a definitive agreement with
BrightPoint, which will allow the company to acquire all of the outstanding
shares of BrightPoint common stock for $9.00 per share in cash.

 

The transaction is valued at approximately $840 million,
including the value of approximately $190 million of BrightPoint’s estimated
debt (net of cash), as of June 30, 2012.

 

The transaction is due for an approval of a majority of
BrightPoint’s outstanding shares at a special meeting, which is expected to
take place in the 2012 third quarter.

Ingram Micro reckons that the acquisition of BrightPoint
combined with expanded geographic footprint and strong financial position will
create growth opportunities for the company.

 

Expanding our presence in the mobility market has been a
focus of Ingram Micro and the acquisition of BrightPoint accomplishes this to
an extent that would have been challenging to achieve on our own,” said Alain
Monie, president and chief executive officer of Ingram Micro.

 

Established in 1989, BrightPoint, a company providing
device lifecycle services to the wireless industry generated $5.2 billion in
revenues for the 2011 fiscal year.

 

The company employs approximately 4,000 people and
operates facilities in 24 countries, with sales in more than 75 countries
around the world.

 

This powerful combination will provide compelling
opportunities for BrightPoint’s vendor partners, customers and employees to
benefit from the financial strength, scale and broad geographic reach of the
world’s largest technology distribution company,” said Robert J. Laikin,
founder, chairman and chief executive officer of BrightPoint.

 

Davis, Polk & Wardwell LLP acted as outside counsel
and Morgan Stanley & Co. LLC acted as the exclusive financial advisor to
Ingram Micro in connection with the transaction.

 

Ingram Micro North America appoints head for mobile business
unit

 

Recently, Ingram Micro appointed Michael Romero as vice
president and general manager of the distributor’s new mobile business unit in North
America to increase its focus on the mobile marketplace.

 

[email protected]

 

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