Dubai, UAE, 13th August 2012 – Ingram Micro Inc. (NYSE: IM), the world's largest technology distributor and supply-chain services provider, announced it is broadening its geographic reach into the Middle East and North Africa with the signing of a definitive agreement to acquire certain IT businesses of Dubai-based Aptec Holdings Ltd. Aptec is a leading value-added distributor in the Middle East, Turkey and North Africa, with products and solutions covering data center, storage, security, networking, and software categories, including technical services.
The acquisition is expected to contribute more than $250 million in revenue to Ingram Micro on an annual basis and is expected to close before the end of the third quarter of 2012, subject to the satisfaction of certain closing conditions. Dr. Ali Baghdadi, founder and chief executive officer of Aptec, will lead the acquired operations reporting to Shailendra Gupta, senior executive vice president and president, Ingram Micro Asia-Pacific. Further details of the transaction were not disclosed.
"The acquisition of Aptec fits well with our strategic objectives to continue to build our higher margin specialty businesses while broadening our geographic reach to capitalize on higher growth markets," said Alain Monié, president and chief executive officer of Ingram Micro Inc. "The Middle East and Africa are robust and growing markets with total IT spending projected to reach $80 billion by 2015. Aptec has been highly effective in growing their business and enhancing profitability in these emerging markets and we believe this combination will further accelerate these ongoing objectives. Aptec has a long-tenured, accomplished leadership team and we look forward to joining forces with them."
Founded in 1980, Aptec currently operates in 6 countries and provides products and services to key Middle East and North Africa countries including the United Arab Emirates, Kuwait, Oman, Egypt, Lebanon, Pakistan and Turkey. The company's regional geographical coverage and extensive customer base are staffed by approximately 350 associates serving over 3,800 active resellers. Aptec's marketing programs, advanced logistics services, technical support, consultancy, high-level technical consulting and outsourcing services, financial services and product delivery and distribution capabilities have made the company one of the most prominent value-added distributors in the region.
"We are excited to join with Ingram Micro," said Baghdadi. "For more than 30 years Aptec has focused on building the company through innovation, value-added service and an unwavering commitment to our customers and vendor partners. The combined strength of Aptec in the Middle East and North Africa and the global leadership and strategic vendor and customer relationships of Ingram Micro provide an excellent opportunity for expanded reach into new services, products and geographies and we expect the union to offer even more value to our combined community."
For More Information please contact:
Svetlana Sorokina / Regional Marketing Manager / Aptec
Tel: +9714 3697 111 / Mob: +97150 4503894