SANTA ANA, Calif., Oct. 28, 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 that it has entered into a definitive
agreement pursuant to which it will acquire Shipwire, Inc., a
leading provider of global fulfillment services for emerging
multi-channel brands. The award-winning Shipwire platform provides
on-demand e-commerce fulfillment and supply chain management from a
network of global pick-pack and ship warehouses to more than 1,000
emerging brands and web retailers. Integrated into the top
e-commerce platforms and based in Silicon Valley, Shipwire has
pioneered cloud logistics with on-demand fulfillment center and
shipping tools, Web services, and innovative developer tools, that
can all be used together to solve complex global logistics
problems.
"Ingram Micro is already well established as an expert in
supply-chain services. The addition of Shipwire will enable us to
accelerate our growth in a $40
billion market for e-commerce fulfillment services that is
estimated to be growing by double-digits through
2015(1)," said Alain
Monie, Ingram Micro CEO. "Additionally, we will utilize
Shipwire's platform capabilities to better serve our medium and
large brand customers by significantly reducing onboarding time and
complexity, giving our customers the flexibility to quickly
operationalize their e-commerce opportunities. This acquisition
supports our strategy to diversify our revenue streams into faster
growing, higher-margin businesses and takes us one step closer to
our vision of becoming a global leader in supply-chain
services."
Shipwire serves brands from more than 50 countries, selling to
buyers across the world from facilities in North America, Europe and Asia. Shipwire will operate as a wholly owned
subsidiary of Ingram Micro. Damon
Schechter, founder and CEO of Shipwire, will continue to
lead the company as president of Shipwire, reporting directly to
Robert Gifford, Ingram Micro
executive vice president, Global Logistics. The acquisition, which
is subject to regulatory approvals and other customary closing
conditions, is expected to close before the end of the year.
"We are excited to join forces with Ingram Micro to accelerate
the Shipwire platform much more quickly than we could have as a
stand-alone company," said Schechter. "Our customers and partners
will see immediate benefits from our joining a global supply chain
leader. Shipwire will now have the growth capital to expand our
platform into software solutions for enterprise brands and
marketplace retailers. Ingram Micro has the global footprint and
supply-chain expertise that helps us fulfill our customer promise
of 'Enterprise Logistics For Everyone™'".
(1) Transport Intelligence (Ti), North American e-commerce
Logistics 2012
About Shipwire
Shipwire provides cloud-based logistics services, shipping
software and outsourced pick-pack and ship fulfillment services
from warehouses around the world. Online sellers send their
inventory to one of Shipwire's fulfillment centers in the U.S.,
Canada, Europe or Asia, and instantly connect Shipwire to their
online store or marketplace. Customers buy from the merchant
online. Shipwire uses "least-cost routing" to optimally pick, pack
and ship the order to the buyer faster, and for less. For a free
trial contact 1-888-Shipwire or sign-up at Shipwire.com/trial.
About Ingram Micro Inc.
Ingram Micro is the world's largest wholesale technology
distributor and a global leader in IT supply-chain and mobile
device lifecycle services. 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 us at
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 acquisitions 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 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.
Additional risk factors include: our ability to timely
complete the transaction, if at all; our ability to complete the
transaction considering the various closing conditions, including
those conditions related to regulatory approvals; the financial
performance of Shipwire and Ingram Micro through the completion of
the merger; Shipwire's business may not perform as expected due to
transaction-related uncertainty or other factors; the ability of
Shipwire and Ingram Micro to retain relationships with customers;
management's ability to execute its plans, strategies and
objectives for future operations; growth of the e-commerce
fulfillment and supply-chain services industries; and our ability
to achieve the expected benefits of the transaction.
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.
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SOURCE Ingram Micro Inc.