SANTA ANA, Calif., June 10 /PRNewswire/ -- Ingram Micro Inc. (NYSE:IM)
today announced that it has entered into a definitive agreement with Tech Data Corporation to acquire its majority interest in Munich, Germany-based Macrotron AG.
The approximately $100 million cash transaction is targeted for completion in third quarter 1998. The acquisition is contingent upon regulatory approval, the successful completion of Tech Data's acquisition of Munich-based Computer 2000 AG, and other considerations. The Germany-based operation will be called Ingram Macrotron.
Macrotron is a publicly held distributor of personal computer products established in 1972, and has grown rapidly since its inception. The company serves more than 22,000 customers, approximately 350 suppliers, and conducts business throughout Germany, Austria and Switzerland. With 1997 sales of nearly DM 2 billion (approximately $1.2 billion), its vendor list includes companies such as 3Com, Canon, Compaq, Corel, Epson, Hewlett-Packard, IBM, Intel, Microsoft, Sony and Toshiba.
Philip D. Ellett, senior vice president and president, Ingram Micro Europe, said, "Macrotron's solid presence in Germany, Austria and Switzerland, and its strong management team led by Michael Kaack are welcome additions to the Ingram Micro team. Combining our presence in Germany as Ingram Macrotron places us solidly as one of the top three computer distribution companies in Europe."
Michael Kaack, President and CEO of Macrotron, said, "We are excited about the prospect of partnering with Ingram Micro, a respected global leader in high tech distribution with a unique business approach in the European marketplace. As we become part of the Ingram Micro team, we will be able to better serve our customers, suppliers and employees as well as achieve a stronger market position."
About Ingram Micro Inc.
Ingram Micro Inc. (NYSE:IM)
, headquartered in Santa Ana, Calif., is the world's leading wholesale distributor of technology products and services, and a leading provider of assembly and integration services, with 1997 sales of more than $16.5 billion. The company and its affiliates operate in 31 countries, distributing more than 145,000 products to more than 100,000 resellers in 120 countries. Ingram Micro can be found at http://www.ingrammicro.com/.
About Tech Data
Tech Data Corporation is a leading full-line distributor of personal computer products, serving more than 70,000 resellers throughout the United States, Canada, Latin America, Germany, France, Switzerland and Austria. The Fortune 500 company generated sales of $7.1 billion in its most recent fiscal year, which ended January 31, 1998. In addition to distributing more than 45,000 products from over 900 manufacturers and publishers, Tech Data provides extensive pre- and post-sale training, service and support as well as high- quality configuration and assembly services and a full range of electronic commerce solutions. The company's comprehensive Web site is located at http://www.techdata.com/.
Ingram Micro is a trademark used under license by Ingram Micro Inc. All other logos, brand names and product names are trademarks of their respective companies.
Source: Ingram Micro Inc.
Contact: Kirsten Frosh, Media Relations, 714-382-2727, or
kirsten.frosh@ingrammicro.com, or Kim Strohm, Investor Relations,
714-382-4400, or kim.strohm@ingrammicro.com, both of Ingram Micro Inc.
Website: http://www.techdata.com/
Website: http://www.ingrammicro.com/