Itochu may buy Redington for €400m
India: Japanese trading conglomerate Itochu Corporation is discussing an acquisition of broadliner Redington for as much as €400 million. Singapore-based NRI family Kewalram Chanrai, Standard Chartered Private Equity and Taiwanese IT distributor Synnex together own over 55% stake in the Chennai-based Redington, which is run by an independent management team under R Srinivasan. The three could offload shares to Itochu at a premium to the prevailing market price, if talks fructify. Itochu, with a history dating back to 1858, is Japan's third largest trading giant after Mitsubishi Corporation and Mitsui & Co. It has used acquisitions to bulk up trading presence in IT and communication products. Redington would provide Itochu a big boost in India and Middle East markets, Redington owning subsidiaries in Angola, Bahrain, Egypt, Ghana, Iraq, Kazakhstan, Kenya, Kuwait, Libya, Morocco, Nigeria, Oman, Qatar, Saudi Arabia, South Africa, Tanzania, Turkey, Uganda and the United Arab Emirates (source : The Times of India).
VMware appoints Redington Value as VAD
MENA: broadliner Redington, through its VAD BU Redington Value, has signed a distribution partnership with VMware to cover the Middle East and North Africa region through its offices in Bahrain, Egypt, Iraq, Kuwait, Libya, Morocco, Oman, Qatar, Saudia Arabia and the United Arab Emirates. The partnership caters for the entire VMware product portfolio. The objective of the partnership is to accelerate the adoption of VMware’s solutions among all local customer segments, with a priority focus on technology relating to the Software-Defined Data Center, the hybrid cloud and end-user computing.
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