Ready For Next Stage Of Ingram Micro’s Growth
Ingram Micro, for the next few months the world’s largest IT distributor until rivals Synnex and Tech Data complete their merger, as of Wednesday was officially acquired by Platinum Equity from its previous owner, China-based HNA. The deal, worth $7.2 billion, comes as Synnex and Tech Data plan to close their merger, which will then create a new largest IT distributor with annual revenue of over $60 billion compared with Ingram Micro’s $49 billion-plus.
Paul Bay, president of global technology solutions at Ingram Micro, spoke with CRN shortly after the close of the acquisition to discuss the impact of the deal on the company’s current and future operations.
“If you look at it, it’s a financial transaction,” he said. “There are no system changes. The operation’s the same today. [Platinum Equity doesn’t] have anybody here from an office perspective sitting here each and every day managing us. They continue to support the management, and our goals and objectives, and the excitement around the things we can accelerate, the things we’ve presented for both our short- and our long-term plans.”
One thing that did change is that Ingram Micro will no longer be considered to be a China-owned business. While Bay said the distributor had been “ring-fenced” to keep away possible Chinese influence over U.S. IT deals, he did say that the company is no longer subject to U.S. government oversight.
Here’s what Bay had to say about the acquisition and more.
Finally, a note on terminology: Bay, like many in the distribution business, uses the word “customers” to refer to channel partners, not end users.