Schulz leaves Ingram Micro
Gerhard Schulz leaves broadliner Ingram Micro for personal reasons after more than 15 years at the firm. He was promoted in 2013 to his present role as executive vice president and president of Europe Technology Solutions, replacing retiring Alain Macquet. Prior to this he spent a number of years leading the broadliner's distribution business across the DACHH region, encompassing operations in Austria, Germany, Hungary and Switzerland. Before that he was managing director of Ingram's business in his native Germany, and also held other senior sales posts in the country. He joined Ingram having previously served as director of rival Tech Data's European business, and worked for vendor Intel earlier in his career. Schulz led a restructure of Ingram's EMEA operations over the past two years, in which each country now has a dedicated chief executive overseeing a national business that is split into four clearly defined areas: traditional product distribution; cloud services; life cycle services; and e-commerce fulfilment. As part of the overhaul the distributor also closed its previous regional headquarters in Brussels, and opened a new centralised service centre in the Bulgarian capital Sofia, in which 800 people are employed. The departing European boss also oversaw a busy period of M&A in the region, including the acquisition of the e-commerce services business of Dutch firm Docdata, and the Odin cloud platform, bought from Parallels. The new EMEA director is now Marc Snider, the former director of Ingram Micro in Canada. He will be based in the Irvine CA offices of the broadliner (source: Channelnomics Europe).
Broadliner Ingram Micro has entered into a definitive agreement to acquire privately-held, San Jose, CA-based Ensim Corporation, a company specialized in enabling the distribution of cloud applications. The transaction is subject to the approval of Ensim shareholders and other customary closing conditions. Alain Monié, Ingram Micro CEO, commented "This acquisition is an excellent complement to Ingram Micro and we look forward to Ensim joining our team." David Wippich, Ensim CEO, said "This is a superb next step for Ensim and we expect to leverage the financial strength, brand recognition and global infrastructure of Ingram Micro to further speed the growth of our business. Our customers and employees will benefit from this union and we are excited to partner with Ingram Micro."
A shareholder of broadliner Ingram Micro is hoping to stop the distributor's impending sale to Chinese conglomerate Tianjin Tianhai and has filed a lawsuit claiming that the US firm sold itself "too cheaply and via an unfair process". An unspecified stockholder has filed a lawsuit on behalf of all those who own shares in the broadliner. The plaintiff alleges that Ingram and its leadership have "breached their fiduciary duties" to those who hold stock in the New York-listed distribution firm. The alleged wrongdoing relates to Ingram's acquisition by Tianjin Tianhai, which was announced last month and is currently going through the approval process. The lawsuit – the ultimate goal of which is to "halt the proposed takeover" – claims that the €5.3b sale price "is grossly inadequate and undervalues Ingram Micro". Furthermore, the plaintiff believes the deal came to pass "via an unfair process". The all-cash agreement equates to a €35-per-share sale price, and a press release announcing the lawsuit claims that, on Monday, Ingram shares closed trading at €32.7. The release also points out that the distributor's sales have grown strongly in recent years, from €32.76b in 2011 to almost €41.94bn for the 53-week period to 3 January 2015 (source: Channelnomics Europe).
Broadliner Ingram Micro has enhanced its Cisco XCHANGE program for reseller partners in EMEA region. The enhanced XCHANGE program offers greater discounts across all Cisco architectures, comprising routing, switching, wireless, security, collaboration and data center. The streamlined process does not require deal registration or approval.
Working with Ingram Micro, resellers are able to deliver life cycle solutions and capture incremental business as they refresh existing customer product with Cisco-certified solutions through the XCHANGE program.
XCHANGE supports the environment and contributes to the circular economy by rewarding, with discounts, the removal and destruction of old products from Cisco and other selected networking vendors in an environmentally-friendly way and in line with local requirements.
XCHANGE is specifically for partners who are looking to do deals between €4,500 – 22,500. Generating the promotion code and applying the discount to the order is extremely easy and quick to do using the specially-developed and intuitive program tool.
Mark Chlebek, Senior Director - Advanced Solutions EMEA, Ingram Micro added "We had a very positive experience with the launch of the first version of this program in Europe. We believe this is a truly attractive and beneficial program for our reseller partners. The program enables resellers to be more competitive in the market and to be more profitable when selling Cisco."
American distribution giant Ingram Micro and Tianjin Tianhai Investment Company have entered into a definitive merger agreement under which Tianjin Tianhai will acquire Ingram Micro for €35.08 per share in an all-cash transaction with an equity value of approximately €5.4 billion. Upon close of the merger, Ingram Micro will become a part of HNA Group, a Hainan-based Fortune Global 500 enterprise group and a leader in aviation, tourism and logistics and the largest stockholder of Tianjin Tianhai. The transaction, which has been unanimously approved by both Ingram Micro's and Tianjin Tianhai's boards of directors, represents a premium of approximately 39% over the average closing share price of Ingram Micro for the 30 trading days ended February 16, 2016.
Following the close of the transaction, which is expected in the second half of 2016, Ingram Micro will operate as a subsidiary of Tianjin Tianhai, consolidated under HNA Group, the largest stockholder of Tianjin Tianhai (via HNA Group's subsidiaries). Ingram Micro is expected to remain headquartered in Irvine, California, and Ingram Micro's executive management team will remain in place, with Alain Monié continuing to lead as CEO. All Ingram Micro lines of business and all regional and country operations are expected to continue unaffected.
Adam Tan, Vice Chairman of the Board of Directors and CEO of HNA Group, said, "Ingram Micro has clearly established itself as a leading distributor and global provider of IT products and services. The Company has a proven and talented team and we believe Ingram Micro is unrivaled in its ability to offer industry-leading, differentiated and easy-to-manage solutions to vendor and customer partners worldwide. We look forward to supporting Ingram Micro's management team and strategies, including continued expansion into new geographies, while also offering their vendor and customer partners access to new and complementary offerings. We share Ingram Micro's commitment to integrity, innovation and performance and we are confident this transaction will enable Ingram Micro to continue to distinguish itself in the marketplace and meet the needs of its vendor and customer partners better than ever before."
Mr. Tan also said, "After the transaction, Ingram Micro would become the largest member enterprise of HNA Group in terms of revenue, and facilitate the internationalization process of the group. With the help of Ingram Micro, HNA Group would have access to business opportunities in emerging markets, which have higher growth rates and better profitability. Furthermore, the addition of Ingram Micro would help the logistics sector of HNA Group transform from a logistics operator to a supply chain operator, and provide one-stop services while improving efficiencies."
Alain Monié, Ingram Micro CEO, said, "Our agreement to join HNA Group delivers near-term and compelling cash value to our stockholders and we expect it to provide exciting new opportunities for our vendors, customers and associates. Innovation, new services introduction, brand management and ensuring the stability and continuity of the businesses joining their enterprise are fundamental to HNA Group's overall strategy. As a part of HNA Group, we will have the ability to accelerate strategic investment, as we continue to capitalize on the constant evolution of technology and emerging trends by adding expertise, capabilities and geographic reach. Additionally, Ingram Micro will now be part of a larger organization that has complementary logistics capabilities and a strong presence in China that can further support the growth and profitability objectives of our vendor and customer partners."
Mr. Monié continued, "HNA Group is committed to maintaining the leadership teams and core values that have made Ingram Micro a trusted partner and industry leader, and as a part of a larger organization, our global associates will have the added opportunity to expand their career objectives while remaining dedicated to Ingram Micro's core principles. We are delighted to join forces with HNA Group, a partner who shares our vision for Ingram Micro and is committed to accelerating the growth of our business to provide innovative solutions across the IT ecosystem."
Dale R. Laurance, Chairman of the Board of Directors of Ingram Micro, said, "HNA Group has a long and successful history of investing in and supporting leading global brands to advance the companies' business objectives. HNA Group has a stated focus to grow globally and to invest further in the operations they acquire. The Board and I are confident that this transaction is in the best interest of our stockholders and that it will create an even stronger partner and value proposition for Ingram Micro's vendors and customers around the world."
The transaction is subject to regulatory approvals in various jurisdictions, as well as the approval of Ingram Micro's and Tianjin Tianhai's stockholders and the satisfaction of other customary closing conditions. Under terms of the deal, Ingram Micro's stock will no longer be publicly traded in the United States, which should give the distributor margin to make more long-term investment decisions.
China International Capital Corporation Limited and Bravia Capital jointly acted as lead financial advisors to HNA Group. Weil, Gotshal & Manges LLP acted as HNA Group's legal counsel.
Morgan Stanley & Co. LLC acted as financial advisor to Ingram Micro and Davis Polk & Wardwell LLP acted as Ingram Micro's legal counsel.
In the EMEA region and following the recent acquisition of RRC businesses in Central and Eastern Europe, Ingram Micro is present in Albania, Austria, Belgium, Croatia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hungary, India, Israel, Italy, Lebanon, Macedonia, Morocco, the Netherlands, Norway, Oman, Poland, Portugal, Romania, Saudi Arabia, Serbia, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Turkey, the United Arab Emirates and the United Kingdom. Following the announcement of the acquisition, Paul Read, Ingram Micro's president and chief operating officer, has decided to leave the distributor, because the HNA buyout got in the way of his career objective to succeed Monié as CEO.
RRC Srbija d.o.o. (an Ingram Micro company)
RRC Srbija d.o.o. (an Ingram Micro company)
General manager :
Mrs Milanka Memon
Creation year : 2003