Australia-based Vantex is region's leading distributor of DC/POS products
SYDNEY and SANTA ANA, Calif., April 29 /PRNewswire-FirstCall/ -- Ingram
Micro Inc. (NYSE: IM), the largest global distributor of technology products,
announced today that it has reached a definitive agreement with ProvencoCadmus
to acquire the business of Vantex Technology Distribution Limited and related
Vantex group companies, Asia Pacific's leading distributor of Data Capture
(DC) and Point of Sale (POS) products. The transaction, which is subject to
customary closing conditions, is expected to be completed at the end of May.
According to Greg Spierkel, Ingram Micro's chief executive officer, the
acquisition of Vantex is part of the company's strategy to expand its global
presence in the growing DC/POS market.
"We've been making small, yet strategically significant acquisitions of
DC/POS players in Europe and North America for nearly five years," Spierkel
added. "We now hold the number-two share position in the United States and
Europe, and we look forward to being a leader in Asia-Pacific."
Since 2004, Ingram Micro has acquired six DC/POS distributors operating in
15 countries. Vantex represents the seventh acquisition in this space and
adds five more countries to the company's geographic reach in this market.
"Vantex is an ideal acquisition for Ingram Micro," says Shailendra Gupta,
president, Ingram Micro Asia Pacific. "In our region, Vantex is the
pre-eminent player, with operations in Australia, New Zealand, Malaysia,
Thailand, and Singapore. The Vantex team has an established track record of
success, wealth of experience in this segment, and key relationships with
leading vendors like Motorola, Inc. We believe that Ingram Micro's
unparalleled customer reach and financial strength, coupled with Vantex team's
excellent segment knowledge, will provide significant growth opportunity for
mutual customers and vendors."
After the acquisition, the business will operate as a division of Ingram
Micro. Matt Maley, Vantex's current chief executive officer, will head the
newly formed division focusing on the distribution of DC/POS and related
products across the region. Maley, who is based in Sydney, will report
directly to Jay Miley, who oversees Ingram Micro's Australia and New Zealand
businesses.
"We're delighted to be joining the Ingram Micro group," says Maley. "We
are in a growing market, and with the ability to draw on Ingram Micro's
expertise, strength and global reach, we're looking forward to continuing to
expand our business. We're also keen to leverage the experience Ingram Micro
has in the DC/POS market in other parts of the world."
Vantex, a wholly owned subsidiary of Provenco (NZX: PVO), generated
revenues of approximately US$83 million in its fiscal year ended June 30,
2008. The company has offices in all the main Australian cities, New Zealand
(Auckland), Singapore, Malaysia, and Thailand with 121 employees who are
expected to move to Ingram Micro with the acquisition.
About Ingram Micro Inc.
As a vital link in the technology value chain, Ingram Micro creates sales
and profitability opportunities for vendors and resellers through unique
marketing programs, outsourced logistics services, technical support,
financial services, and product aggregation and distribution. The company
serves more than 150 countries and is the only global broadline IT distributor
with operations in Asia. Visit http://www.ingrammicro.com.au.
SOURCE: Ingram Micro Inc.
CONTACT:
Worldwide Contact, Ria Carlson, +1-714-382-4400,
ria.carlson@ingrammicro.com,
or Asia-Pacific Contact,Jay Miley, +61-2-9381
6000,
jay.miley@ingrammicro.com.au,
both of Ingram Micro Inc.
Web Site: http://www.ingrammicro.com.au
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