Strategic Acquisition Extends Ingram Micro's Global Cisco Relationship And Underlines the Company's Firm Commitment to the Networking Sector
SANTA ANA, Calif., Aug. 21 /PRNewswire/ -- Ingram Micro Inc. (NYSE:IM)
, the largest global wholesale provider of technology products and supply chain management services, today announced that it has reached an agreement with Sphinx CST in the UK to acquire its highly respected Cisco Sales Division. The transaction is expected to be complete by September 7, 2001.
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Sphinx CST is a leading value-add, trade-only specialist channel supplier that forms part of the Lynx Group PLC. Its Cisco Sales Division -- a group of 20 experienced, knowledgeable and highly respected networking specialists -- will join Ingram Micro's operations in the UK as a specialist unit within the networking sector.
The new division will continue to operate from its existing Maidenhead premises in the UK, with incumbent general manager, Annabel Devonshire, retaining responsibility for the team's strategic sales direction. Devonshire will report to Neville Ebanks, director, commercial sales, Ingram Micro UK. Following completion of the acquisition, all of Sphinx CST's Cisco inventory will be relocated to Ingram Micro UK's state-of-the-art logistics centre located in Daventry, Northamptonshire.
Greg Spierkel, executive vice-president Ingram Micro Inc. and president Ingram Micro Europe, underlined the importance of the agreement for both parties. "This acquisition allows Ingram Micro to forge a strong, running start in the UK with Cisco, who is our biggest networking partner worldwide, while the Sphinx Cisco Sales Division will be supported by the logistical strengths and capabilities associated with broadline distribution. As a dedicated high-end networking unit, the Sphinx Cisco Sales Division will perfectly complement our successful Compu-Shack team in Germany. Given the importance and size of the UK and German markets for the networking sector, this acquisition provides a solid foundation to build our Cisco capability and adds critical mass to our commitment to become the strongest networking distributor in Europe."
Paris G. Arey, vice president, EMEA channels, Cisco Systems Inc. added, "This agreement underlines the strong pan-European relationship that Cisco has developed with Ingram Micro. For Cisco resellers in the UK, this is an important agreement, as it provides them with a dedicated, well established and reputable Cisco sales support team, backed by logistical excellence. Ingram Micro now offers a broad range of innovative value-add services to the channel and we will continue to utilize their strengths to reach our channel objectives."
Commenting on the acquisition, Meinie Oldersma, managing director, Ingram Micro UK, stated, "We are absolutely delighted to have secured this acquisition. The knowledge and experience that this outstanding team brings to our company will prove invaluable. We are equally delighted to now have the ability to offer our growing band of networking customers the Cisco product range, and the addition of Cisco to our portfolio presents our customers with the ideal gateway to a broad range of new high-margin revenue opportunities. I would like to take this opportunity to welcome the new team to Ingram Micro UK, and I am sure that our networking customers will benefit from the wealth of experience and detailed product knowledge they have to offer."
About Ingram Micro Inc.
Ingram Micro Inc. is the largest global wholesale provider of technology products and supply chain management services. The company operates in 36 countries with sales of $30.7 billion for the fiscal year 2000. Ingram Micro's global regions provide the distribution of technology products and services, marketing development and supply chain management services to more than 175,000 technology solution providers and 1,700 manufacturers. The company is focused on maximizing shareowner value and achieving customer satisfaction through innovation in the IT supply chain. Visit http://www.ingrammicro.com/.
(C) 2001 Ingram Micro Inc. All rights reserved. Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc. All other trademarks are the property of their respective companies.
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Source: Ingram Micro Inc.
Contact: Media Relations, Jennifer Marchetta, +1-714-382-2692,
jennifer.marchetta@ingrammicro.com, or Investor Relations, Ria Marie Carlson,
+1-714-382-4400, ria.carlson@ingrammicro.com, both of Ingram Micro Inc.
Website: http://www.ingrammicro.com/