SANTA ANA, Calif., June 16, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Ingram Micro Inc. (NYSE: IM), the world's largest technology distributor, today announced it has purchased the assets of SymTech Nordic AS, the leading Nordic distributor of automatic identification and data capture (AIDC) and point-of-sale (POS) technologies to solution providers and system integrators. Terms of the transaction were not disclosed.
The acquisition represents a small yet strategically significant entry into Europe's growing AIDC/POS, radio frequency identification (RFID) and enterprise mobility markets, according to Greg Spierkel, chief executive officer, Ingram Micro Inc.
"This transaction reflects our global strategy of expanding into adjacent technologies, allowing Ingram Micro to further differentiate itself in a growing market," said Spierkel. "While SymTech generates a small fraction of the Europe region's overall sales, it provides attractive growth and gross margin characteristics while creating a platform for global reach in this category. Through SymTech, Ingram Micro becomes the only distributor with an AIDC/POS presence on four continents, complementing the acquisition of U.S.-based Nimax and the launch of AIDC/POS/RFID divisions in our Latin America and Asia Pacific regions within the last two years."
The acquisition will bring new partnership opportunities to SymTech's manufacturer and solution provider customers. Solution providers will benefit by gaining access to added training, marketing and business development resources, world-class logistics and access to one-stop shopping. Manufacturers serving the AIDC/POS market will have the opportunity to take advantage of Ingram Micro's global reach, vast business development resources and a broad customer base serving key vertical markets.
Ingram Micro has purchased all the assets of SymTech and its subsidiaries, which have operations throughout the Nordic region. As part of the agreement SymTech's employees will be offered employment with Ingram Micro's three Scandinavian companies. SymTech will operate as a specialized division within Ingram Micro Nordics.
The division will leverage Ingram Micro's pan-European reach, broad customer base, marketing engine, back-office resources and logistics capabilities to initially serve the Scandinavian countries with growth opportunities throughout Europe. The division will be led by current SymTech general manager Jan Gulbrandsen, who will report directly to Johan Vandenbussche, vice president of Ingram Micro's northern region in Europe.
"This is a great step forward for our company, vendor partners and customers," said Gulbrandsen. "We believe that our value-add and services in the AIDC/POS segment, coupled with the capabilities of the world's largest technology distributor, is a guarantee for even better quality and value for money for our customers. We're very happy to join Ingram Micro and looking forward to developing our business for our partners and our customers."
Kevin Murai, president and chief operating officer, Ingram Micro, added: "The AIDC/POS market is approximately $15 billion, with exciting growth and margin potential. Ingram Micro has established technology and vertical market solution capabilities, relationships and resources, while SymTech provides respected experience in the European AIDC and POS space. Together, we will create complete, highly marketable technology solutions, which will help our customers gain a distinct competitive advantage in the European marketplace."
"We are very pleased to see two strong distributors, SymTech and Ingram Micro joining forces to further support our worldwide growth plans," said Jeremy Butt, vice president worldwide distribution, Symbol Technologies. "Our experience with SymTech in the Nordics and with Ingram Micro in the US, Latin America and Asia Pacific, makes us fully confident that our resellers in Europe will benefit from this relationship."
About Ingram Micro Inc.
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 services, technical support, financial services, and product aggregation and distribution. The company serves 140 countries and is the only broadline global IT distributor with operations in Asia. Visit www.ingrammicro.com.
SOURCE Ingram Micro Inc.
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