The distributor confirmed a successful deal will not affect the company staff numbers
Ingram Micro is to be acquired by Tianjin Tianhai Investment Company in a deal worth $6 billion (£4 billion).
The distributor confirmed the acquisition to Mobile News. Should the deal pass regulatory approval, Ingram will become part of China-based Tianjin Tianhai’s largest shareholder HNA Group. Both Ingram and Tianjin Tianhai’s board of directors have approved the deal and the transaction is expected to close in the second half of this year.
Ingram said it will still be headquartered in California. Alain MoniÃ© (pictured) will remain as CEO and no changes will be made to its current workforce. The company’s regional and worldwide operations will be unaffected, with no offices or warehouses closing. Ingram will operate independently from HNA Group.
MoniÃ© said the acquisition will provide Ingram’s partners with new opportunities throughout China. He 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.
“Additionally, Ingram Micro will now be part of a larger organisation 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.”
HNA Group CEO Adam Tan added: “After the transaction, Ingram Micro would become the largest member enterprise of HNA Group in terms of revenue, and facilitate the internationalisation 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.”
Tianjin Tianhai, established 1992, has a registered capital of ¥2.89 billion (£300 million). The Tianjin-based company specialises on investing in logistics.
HNA Group claims to be worth $90 billion and operates business in aviation, banking, tourism and logistics. Revenue and employment numbers last year totalled $29 billion and 180,000 respectively.