Chinese Business Group Tianjin Tianhai Acquires Ingram Micro for $6 Billion

IT products and services provider Ingram Micro has been acquired by China’s Tianjin Tianhai Investment Company for $6 billion. Headquartered in Irvine, California, Ingram offers wide variety of technology products in addition to software and professional services.
In Latin America, Ingram has offices in Brazil, Chile, Colombia, and Peru. In March last year, Ingram acquired Tech Data units in Peru and Chile, expanding its product offerings in mobility, supply chain solutions, and cloud.
Later in October, it purchased São Paulo, Brazil-based IT solutions services provider Grupo ACAO, which also provides integration services, sales support, and financial services, and has operations in Brazil, Colombia, Argentina, Chile, Peru, Uruguay, and Ecuador.
Ingram Micro is expected to remain headquartered in Irvine, California, and its executive management team will remain in place, with Alain Monié continuing to lead as CEO. All Ingram Micro lines of business and all regional and country operations are expected to continue unaffected.
Once the deal is closed, Ingram Micro will become a part of HNA Group, a Hainan-based enterprise group. Shanghai-listed HNA runs nearly dozen publicly traded companies in the aviation, tourism, and logistics industries. The group had revenue of $29 billion in 2015, according to the statement.
“We look forward to supporting Ingram Micro’s management team and strategies, including continued expansion into new geographies,” said Adam Tan, CEO of HNA Group. “The addition of Ingram Micro would help the logistics sector of HNA Group transform from a logistics operator to a supply chain operator, and provide one-stop services while improving efficiencies.”
Ingram said the acquisition would bolster its ability to capitalize on the constant evolution of technology and emerging trends by adding expertise, capabilities and geographic reach.
“Additionally, Ingram Micro will now be part of a larger organization that has complementary logistics capabilities and a strong presence in China that can further support the growth and profitability objectives of our vendor and customer partners,” said Alain Monié, Ingram Micro CEO.