Technology distributor Ingram Micro Inc. of Santa Ana is planning to purchase Indianapolis-based BrightPoint, Inc. for an estimated total of $840 million.
BrightPoint, a worldwide technology provider, generated a half-billion dollars in revenue last year and employs nearly 4,000 in 24 countries. Ingram Micro will purchase the company for $9 per share.
“Our expanded geographic footprint and strong financial position create growth opportunities for the combined company and give vendors, network operators and mobile virtual network operators, partners and customers one-stop access to one of the widest ranges of mobility and technology products, services and solutions,” said Ingram Micro president and chief executive officer Alain Monie.
The acquisition will require approval by the majority of BrightPoint’s shareholders and is expected to close by the end of this year. The merger is expected to allow Ingram Micro to cut $55 million from its annual operating costs by 2014.
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