SANTA ANA, Calif., March 2, 2015 /PRNewswire/ -- The
acquisition of ANOVO by Ingram Micro Inc. (NYSE: IM) further
expands its position as the leading global provider of device
lifecycle services, while also strengthening the company's
relationship with many of the world's largest mobile network
operators and hardware manufacturers. ANOVO is a Europe based provider of repairs and
regeneration solutions for high-tech products such as smartphones
and set-top boxes across Europe
and Latin America.
ANOVO will continue to be led by François Lacombe, reporting
directly to Shailendra Gupta,
president at Ingram Micro Mobility. The company is expected to
contribute in excess of $300 million
in annual services revenue and be modestly accretive to Ingram
Micro's 2015 full year non-GAAP diluted earnings per share.
"ANOVO significantly increases the contribution of services
revenues in Europe and
Latin America, while also enabling
Ingram Micro to provide a complete suite of mobility lifecycle
solutions in a host of new countries," said Alain Monié, chief
executive officer at Ingram Micro. "We are already positioned at
the center of the global mobility ecosystem and we expect to
leverage ANOVO's core service offerings and client relationships
across our global infrastructure to expand our presence in current
markets and capture new market opportunities."
About ANOVO
With 4,200 associates across 10
countries, ANOVO is a leading provider of reverse logistics and
repair within the technology market place. ANOVO develops solutions
that extend the lifecycle of high-tech products, offering a second
life to more than 20 million products worldwide annually. These
products include everything from smartphones to computers, touch
screen tablet devices, triple play set top boxes, home gateways,
game consoles, e-readers, TVs and printers. More at
www.ANOVO.com.
About Ingram Micro Inc.
Ingram Micro helps businesses
Realize the Promise of TechnologyTM. 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, 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 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 approval; the financial
performance of ANOVO and Ingram Micro through the completion of the
merger; ANOVO's business may not perform as expected due to
transaction-related uncertainty or other factors; the ability of
ANOVO and Ingram Micro to retain relationships with customers;
management's ability to execute its plans, strategies and
objectives for future operations; 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. 28,
2013; 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.