SANTA ANA, Calif., Sept. 30, 2013 /PRNewswire/ -- Ingram Micro
Inc. (NYSE: IM), the world's largest wholesale technology
distributor and a global leader in supply-chain and mobile device
lifecycle services, today announced it has acquired Norcross, Ga.-based CloudBlue Technologies,
Inc. (CloudBlue), a leading provider of enterprise IT asset
disposition, onsite data destruction and e-waste recycling services
to large enterprise customers, retail customers and OEMs. Founded
in 2008, CloudBlue provides secure and sustainable reverse
logistics solutions for more than 1,000 customers.
CloudBlue will operate as a wholly owned subsidiary of Ingram
Micro. Ken Beyer, former CEO and
co-founder of CloudBlue, will continue to lead the company as vice
president of Ingram Micro and president of CloudBlue, reporting
directly to Robert Gifford, Ingram
Micro executive vice president, global logistics. Further details
of the transaction, which closed today, were not disclosed.
"Today, data security and environmental responsibility are at
the forefront of corporate priorities," said Alain Monié, Ingram
Micro president and CEO. "The addition of CloudBlue to Ingram Micro
allows us to meaningfully expand our supply chain solutions
portfolio with a full suite of in-demand services that reduce the
risk, cost and complexity associated with securely managing IT
assets and consumer electronics throughout their lifecycle in
compliance with environmental and data security regulations.
"CloudBlue services a rapidly growing, higher-value market,
which we expect will help accelerate the expansion of our supply
chain solutions businesses across the globe," Monié continued. "In
addition to cross-sell opportunities into Ingram Micro's OEM
partners and existing base of more than 200,000 customers, we
expect to benefit from new revenue opportunities within CloudBlue's
existing blue chip customer base, given our global reach. This is
an excellent complement to our supply chain services business and
we welcome CloudBlue's associates, partners and customers to the
Ingram Micro family."
"We are excited to join Ingram Micro and believe this
combination will benefit CloudBlue employees, customers and
partners alike," said Beyer. "Ingram Micro recognizes the
importance of cultivating a welcoming and dynamic workplace and
their culture and vision for the tremendous opportunity to provide
a full suite of supply chain services worldwide is well aligned
with CloudBlue's. We believe we can leverage Ingram Micro's global
footprint and strong reputation to significantly accelerate our
growth, and we look forward to contributing to their strategic goal
of expanding the company's portfolio of higher-margin, value-added
business services."
CloudBlue former chairman and co-founder Randy Altschuler added, "Ingram Micro's
dedication to the principles on which CloudBlue was founded and the
importance of its mission make it the ideal company to continue to
provide CloudBlue's current and future customers with extraordinary
services and commitment."
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 combined 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. Important risk factors that could cause actual results
to differ materially from those discussed in the forward-looking
statements include, without limitation: (1) we have made and expect
to continue to make investments in new businesses and initiatives,
including acquisitions, which could disrupt our business and have
an adverse effect on our operating results; (2) we are dependent on
a variety of information systems, which, if not properly
functioning, or unavailable, or if we experience system
security breaches, data protection breaches or other
cyber-attacks, could adversely disrupt our business and harm
our reputation and earnings; (3) changes in macro-economic
conditions may negatively impact a number of risk factors which,
individually or in the aggregate, could adversely affect our
results of operations, financial condition and cash flows; (4) we
continually experience intense competition across all markets for
our products and services; (5) we operate a global business that
exposes us to risks associated with conducting business in multiple
jurisdictions; (6) our failure to adequately adapt to IT industry
changes could negatively impact our future operating results; (7)
terminations of a 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; (8) substantial defaults by our
customers or the loss of significant customers could have a
negative impact on our business, results of operations, financial
condition or liquidity; (9) 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; (10) 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; (11) failure to
retain and recruit key personnel would harm our ability to meet key
objectives; (12) we cannot predict with certainty what losses we
may incur as a result of litigation matters and contingencies that
we may be involved with from time to time; (13) we may incur
material litigation, regulatory or operational costs or expenses,
and may be frustrated in our marketing efforts, as a result of
environmental regulations or private intellectual property
enforcement disputes; (14) 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; (15) changes in accounting rules could adversely
affect our future operating results; and (16) our quarterly results
have fluctuated significantly. We also face a
variety of risks associated with this acquisition and our
acquisitions of Brightpoint, Inc., Aptec and Promark, and any other
acquisitions we may make, including: management's ability to
execute its plans, strategies and objectives for future operations,
including the execution of integration plans, and to realize the
expected benefits of our acquisitions; growth of the mobility
industry, the government contracts business, and in new and
untapped markets in geographies outside the U.S.; and other
uncertainties or unknown, underestimated and/or undisclosed
commitments or liabilities; and our ability to
achieve the expected benefits and manage the costs of the
integrations of our acquisitions.
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 Dec. 29,
2012; other risks or uncertainties may be detailed
from time to time in Ingram Micro's future SEC filings.
About CloudBlue
CloudBlue is a leading provider of
enterprise IT asset disposition, onsite data destruction and
e-waste recycling services to large enterprise customers, retail
customers and OEMs. Their services reduce the risk, cost and
complexity associated with securely managing IT assets and consumer
electronics throughout their lifecycle in compliance with
environmental and data security regulations. CloudBlue's operations
are process-oriented, driven by continuous improvement through
LEAN, 5S, Six Sigma and Kaizen-based management and process
principles. With more than 40 global locations, CloudBlue manages
the entire asset chain-of-custody seamlessly to provide secure and
sustainable reverse logistics solutions for more than 1,000
customer organizations.
Certifications include:
- e-Stewards® certified (one of the first organizations to
achieve certification)
- ISO 14001:2004 certified
- ISO 9001:2008 certified
- OHSAS 18001:2007 certified
- R2 certified
About Ingram Micro Inc.
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 approximately 160
countries on six continents with the world's most comprehensive
portfolio of IT products and services. Visit
www.ingrammicro.com.
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SOURCE Ingram Micro Inc.