SANTA ANA, Calif., Nov. 29, 2012 /PRNewswire/ -- Ingram
Micro Inc. (NYSE: IM), the world's largest technology distributor
and a global leader in IT supply-chain, mobile device lifecycle
services and logistics solutions, today announced it will acquire
Promark Technology, a value added distributor (VAD) with a core
technology focus on data storage, data management and electronic
document imaging products and services. Based in Annapolis Junction, Md., Promark also provides
various federal and state contract vehicles, including a General
Services Administration (GSA) schedule, which allows its authorized
vendors and technology resellers to sell to the U.S. public sector
market. Promark's revenues are estimated to be $100 million for the year ending December 31, 2012. Promark will retain its name
and operate as a subsidiary of Ingram Micro.
(Logo: http://photos.prnewswire.com/prnh/20100107/IMLOGO)
The acquisition is scheduled to close Nov. 30, 2012 and is subject to customary closing
conditions. Dale Foster, current CEO
of Promark Technology, will continue to lead the company following
the acquisition as executive director and general manager,
reporting to Scott Zahl, vice
president and general manager of Ingram Micro's Advanced Computing
Division in the U.S. Further details of the transaction were
not disclosed.
"The acquisition of Promark is another step forward in our
strategy to strengthen Ingram Micro's position in higher value
products and solutions, as well as extend our leadership and reach
within the public sector," said Alain Monié, president and chief
executive officer, Ingram Micro Inc.
"The acquisition of Promark gives us a deeper reach into the
enterprise storage market while providing new federal, state and
other U.S. government revenue opportunities for our partners
through the GSA schedule," explains Paul
Bay, acting president, Ingram Micro North America.
"Together, we will drive revenue synergies by cross-selling Ingram
Micro's current storage solutions to Promark's customers and
offering our channel partners access to Promark's specialized
product portfolio and established government contracts."
"Being part of Ingram Micro provides Promark customers, vendor
partners and associates with a vast array of business opportunities
that were previously unavailable," said Foster. "We are excited to
become a strategic part of the industry's global leader in IT
supply-chain, mobile device lifecycle services and logistics
solutions and see significant benefit in offering a wider range of
information technology products to our customer base. Promark has
been in business more than 20 years and remains focused on growth,
customer service and offering a great working environment for our
associates. We look forward to continuing to build upon this legacy
as a part of Ingram Micro."
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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 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.
All statements other than statements of historical fact are
statements that could be deemed 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: Promark's business may not
perform as expected due to transaction-related uncertainty or other
factors; the ability of Promark and Ingram Micro to retain
relationships with customers, vendors and other partners;
management's ability to execute its plans, strategies and
objectives for future operations, including the execution of
integration plans; growth of the data storage, data
management and electronic document imaging products and services
industry; our ability to maintain access to adequate levels of
capital at reasonable rates; and our ability to achieve the
expected benefits and manage the expected costs of the
transaction.
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
December 31, 2011 and Item 1A Risk Factors of Ingram
Micro's Quarterly Report on Form 10-Q for the fiscal quarter ended
September 29, 2012; other risks or
uncertainties that may be detailed from time to time in Ingram
Micro's future SEC filings.
About Promark
Promark Technology is one of the premier
value added distributors (VAD) in the
United States. Promark's core technology focus is
distributing data storage and electronic document imaging products
and solutions through a two-tier distribution channel selling to
value added resellers (VARs) and system integrators. Promark
leverages its direct relationships with world class technology
partners including: Dell – Compellent, Dot
Hill, QLogic, Overland Storage, ExaGrid, Nexsan, FalconStor,
Enterasys, Panasonic, Fujitsu and many more to provide solutions
that meet the most demanding needs of their customers. Promark's
Professional Services Division provides VARs the opportunity to
offer its clients installation, implementation and support services
for many of our vendors. Promark offers a channel- friendly model
with a solid margin proposition for organizations to make money for
service opportunities. Promark offers professional services in
application integration, backup and recovery, network optimization,
storage implementations and disaster recovery solutions. Promark
also provides various federal and state contract vehicles,
including the GSA schedule for which its channel partners can
leverage to sell to the government.
About Ingram Micro
Ingram Micro is the world's largest
wholesale technology distributor and a global leader in IT
supply-chain, mobile device lifecycle services and logistics
solutions. As a vital link in the technology value chain, Ingram
Micro creates sales and profitability opportunities for vendors and
resellers through unique marketing programs, outsourced logistics
and mobile solutions, technical support, financial services and
product aggregation and distribution. The company is the only
global broad-based IT distributor, serving 145 countries on six
continents with the world's most comprehensive portfolio of IT
products and services. Visit www.ingrammicro.com.
SOURCE Ingram Micro Inc.