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Ingram Micro completes acquisition of BrightPoint

Associated Press
October 16, 2012
Keywords
Brightpoint, Mergers & Acquisitions, Tech Companies, Technology
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Ingram Micro Inc. said Monday that it has completed its roughly $840 million acquisition of Indianapolis-based mobile-device logistics provider BrightPoint Inc.

The deal improves the breadth of products and geographic reach of the Santa Ana, Calif.-based technology products company.

Ingram Micro agreed in July to buy BrightPoint for about $840 million, including $190 million in debt. BrightPoint stockholders are set to receive about $9 per share in cash.

"Independently, each company is a respected industry leader. Together, we are a stronger global leader," Alain Monie, president and CEO of Ingram Micro, said in a prepared statement.

BrightPoint will initially be led by Shailendra Gupta, Ingram Micro's senior executive vice president and president of its business in the Asia-Pacific. He will be assisted by a team of individuals from each organization.

Ingram's shares rose 10 cents Monday to close at $14.96 each. Its stock remains at the low end of its 52-week trading range of $14.42 to $19.80.

Ingram Micro is the world's largest technology distributor and supply-chain services provider.

BrightPoint, founded in Plainfield in 1989, provides logistics to sellers of wireless devices. It has more than 1,300 employees in the Indianapolis area and about 4,000 worldwide.

The successful closure of the merger triggers a compensation agreement for six of BrightPoint's executive officers that will pay them nearly $31million, including $14.1 million for CEO and Chairman Robert Laikin.

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