Ingram Micro to acquire Aptec Holdings
Ingram’s acquisition broadens geographic reach in Middle East and North Africa markets
Ingram Micro, the world's largest IT distributor and supply-chain services provider, has announced that it has signed a definitive agreement to acquire certain IT businesses of Dubai-based Aptec Holdings Limited.
Details of the transaction were not disclosed but the acquisition is expected to contribute more than $250 million in revenue to Ingram Micro on an annual basis and is expected to close before the end of Q3 2012, subject to the satisfaction of certain closing conditions, the company said in a statement.
The merger also paves way for Ingram Micro, the only global broad-based IT distributor, serving 145 countries on six continents with a comprehensive portfolio of IT products and services to have direct presence in the MENA geography.
Dr. Ali Baghdadi, founder and chief executive officer, Aptec Holdings, will lead the acquired operations reporting to Shailendra Gupta, senior executive vice president and president, Ingram Micro Asia-Pacific.
"The acquisition of Aptec fits well with our strategic objectives to continue to build our higher margin specialty businesses while broadening our geographic reach to capitalise on higher growth markets," said Alain Monié, president and chief executive officer of Ingram Micro Inc. "The Middle East and Africa are robust and growing markets with total IT spending projected to reach $80 billion by 2015. Aptec has been highly effective in growing their business and enhancing profitability in these emerging markets and we believe this combination will further accelerate these ongoing objectives. Aptec has a long-tenured, accomplished leadership team and we look forward to joining forces with them."
Baghdadi added that: "We are excited to join with Ingram Micro. For more than 30 years Aptec has focused on building the company through innovation, value-added service and an unwavering commitment to our customers and vendor partners. The combined strength of Aptec in the MENA regional and the global leadership and strategic vendor and customer relationships of Ingram Micro provide an excellent opportunity for expanded reach into new services, products and geographies and we expect the union to offer even more value to our combined community."
Founded in 1980, Aptec currently operates in six countries and provides products and services to key MENA countries including the United Arab Emirates, Kuwait, Oman, Egypt, Lebanon, Pakistan and Turkey.