Exclusive Alliance Will Serve Global Value-Added Resellers
SANTA ANA, Calif., Oct. 12 /PRNewswire/ -- Ingram Micro Inc., the world's leading wholesale distributor of technology products and services, today announced it has entered into a strategic alliance with SOFTBANK Corp., Japan's largest distributor of software, peripherals and networking products, for the distribution of computer-related products on a global scale. In connection with the alliance, Ingram Micro will make a $50 million investment in SOFTBANK, while SOFTBANK will take an equally valued position in Ingram Micro. Additional terms and conditions of the alliance were not disclosed.
Jerre L. Stead, chairman and CEO of Ingram Micro, said: "We are very excited to be entering into a strategic alliance with SOFTBANK, a company recognized throughout the world for its excellent management team. Japan is the second-largest IT market in the world, and, through this alliance, we are now able to offer our vendor and customer partners enhanced global coverage. Together, we will create a strong team that will improve business models and operations by sharing industry knowledge and management expertise."
Said Masayoshi Son, president and CEO of SOFTBANK: "This partnership with Ingram Micro will enable SOFTBANK to leverage its contacts with both customers and suppliers in the Japanese market to provide higher levels of service to each. The agreement will enable us to support our global customers more completely and to provide superior, more consistent distribution for our Japan-based suppliers. Moreover, our respective investments in each other are important signals conveying our deep, mutual respect and commitment to long- term market success together."
The overall goal of the alliance is to provide global account services to value-added resellers, including establishing joint purchasing programs, while leveraging each partner's business knowledge and expertise in the markets each serves. Ingram Micro will be SOFTBANK's exclusive partner in the markets outside Japan served by Ingram Micro. Similarly, SOFTBANK will fulfill Ingram Micro's international sales in Japan. In addition, both companies are looking at developing channel assembly capabilities in Japan in the near future.
About SOFTBANK Corp.
SOFTBANK Corp. is a leading provider of information and distribution services for the digital information industry. In Japan, SOFTBANK is the largest distributor of software and computer technology publications. In the U.S. SOFTBANK owns approximately 72 percent of Ziff-Davis Inc. (NYSE:ZD)
, 31 percent of Yahoo! Inc. (NASDAQ:YHOO)
, 80 percent of Kingston Technology Company, and 27 percent of E*Trade Group, Inc. (NASDAQ:EGRP)
.
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 sales of $19.3 billion for the last four quarters. The company and its affiliates operate in 31 countries and distribute more than 145,000 products to more than 112,000 resellers in 120 countries. Ingram Micro can be found at http://www.ingrammicro.com/.
FORWARD LOOKING STATEMENTS
Certain statements in this press release, may be forward-looking statements that involve risks and uncertainties. Words such as "anticipates," "intends," "plans," "believes," "seeks," "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on current expectations and projections about the technology distribution industry and assumptions made by Ingram Micro's management and are not guarantees of future performance. Therefore, actual events and results may differ materially from those expressed or forecasted in the forward-looking statements due to factors such as those identified in exhibit 99.1 of Ingram Micro's annual report on form 10-k for the fiscal year ended January 3, 1998. Other risks or uncertainties may be detailed from time to time in Ingram Micro's future Securities and Exchange Commission filings. Ingram micro undertakes no obligation to update any forward-looking statements in press release.
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 of Ingram Micro Inc., 714-382-2727 (U.S.),
kirsten.frosh@ingrammicro.com; or Shawn Schy of SOFTBANK Corp.,
(011) 81-3-5641-8415
Website: http://www.ingrammicro.com/