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Ingram Micro

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"Micro D" redirects here. For the type of connector, see D-subminiature.
Ingram Micro Inc.
Company typePublic
NYSE: INGM
IndustryInformation Technology
Founded1979; 45 years ago (1979)
HeadquartersIrvine, California, U.S.
Key people
Alain Monié, Executive Chairman
Paul Bay, CEO,
Mike Zilis, CFO
Productslifecycle services, software, commerce & fulfillment services, technology services, Cloud
RevenueDecrease US$ 48 billion (2023)[1]
Increase US$ 700 million (2020)[1]
Total assetsIncrease US$ 15.47 billion (2019)[1]
Total equityIncrease US$ 4.67 billion (2019)[1]
OwnerPlatinum Equity
Number of employees
24,000 [2]
SubsidiariesAPTEC - An Ingram Micro Company
Websiteingrammicro.com

Ingram Micro is an American distributor of information technology products and services. The company is based in Irvine, California, U.S. and has operations around the world. Founded as Micro D, Inc in 1979 in California by Geza Czige and Lorraine Meccathe, the company has grown significantly[citation needed] due to acquisitions and expansions into new markets.

History

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Ingram Micro's origins trace back to the founding of distributor Micro D, Inc. in July 1979 by husband and wife team, Geza Czige and Lorraine Mecca, who were both teachers. The company started in Southern California and in its first year of business achieved approximately $3.5 million in sales.[3]

After acquiring the remaining publicly traded shares of Micro D in 1989, Ingram Industries merged these two former competitors to create the microcomputer industry's first $1 billion computer products wholesale distribution company, renaming it Ingram Micro D.[4]

In August 1993, Ingram Micro Belgium acquired Zaventem Electronic Dealer Distribution (Zedd) and much of its assets, including the right to distribute Hewlett-Packard products.[5]

In 1996, Ingram Micro became a publicly traded company on the New York Stock Exchange, with revenues exceeding $12 billion.

In July 2005 Ingram Micro purchased AVAD, LLC, a wholesale distributor for home automation and A/V gear.[6] It sold this subsidiary in July 2016.[7]

The Shared Services Center in Manila, Philippines, began operations in May 2009, followed by another in Sofia, Bulgaria, in 2012.[8][9][10]

Ingram Micro built a presence in areas adjacent to its traditional distribution business, including enterprise computing, automatic identification and data capture (AIDC); point-of-sale (POS); managed, professional and warranty maintenance services; mobility; physical security; and consumer electronics.[citation needed]

Other ventures in 2014 included entry into cloud computing, or software-, platform- and infrastructure-as-a-service.[11]

In June 2014, Ingram Micro changed their logo and introduced a new tagline: "Ingram Micro helps businesses realize the promise of technology".[12]

In December 2015, Ingram Micro acquired Odin Service Automation platform from Parallels[13] for $163.9 million.[14]

In February 2016, Ingram Micro announced its agreement to be acquired by the Chinese company Tianjin Tianhai Investment, an associate company of mega-conglomerate HNA Group, for $6 billion; upon completion, Ingram Micro would become part of Tianjin Tianhai Investment and therefore a subsidiary of HNA Group.[15] It was reported at the time that Alain Monié, Ingram's chief executive, would remain in place.[16] HNA Group director Tan Xiangdong was elected onto the 7-man board of directors of Ingram Micro.[16] The transaction reportedly made Ingram the biggest revenue generator for HNA Group. The strategic reason for the transaction was to better reach "business opportunities in emerging markets, which have higher growth rates and better profitability." HNA Group's logistics and its presence in China was intended to help Ingram's growth.[17] The acquisition was completed in December 2016.[18]

Ingram Micro acquired Comms-care, an IT support provider, in May 2016.[19]

In October 2017, Ingram Micro partnered with DocuSign.[20] In December 2017, Ingram Micro acquired Cloud Harmonics, expanding its cyber security capabilities.[21] In May 2018, Ingram Micro formed CloudBlue.[22]

In December 2020, Platinum Equity announced its intent to acquire Ingram Micro from HNA Technology Co. in an all-cash transaction with an equity value of approximately US$7.2 billion.[23] The transaction completed in July 2021.[24]

In December 2021, CEVA Logistics, a subsidiary of CMA CGM, announced plans to buy Ingram Micro CLS; Ingram's Third Party Logistics arm.[25]

In May 2022, Ingram Micro previewed its digital experience platform ecosystem known as Ingram Micro Xvantage™.[26] In September 2022, Ingram Micro introduced Ingram Micro Xvantage in two of its largest countries—the United States and Germany.[27]

Notable employees

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Former U.S. Congressman Chris Lee once worked at Ingram Micro.[28]

Bülent Ural, who currently works as a sales consultant for Ingram Micro's German branch, was a member of the German-Turkish musical group Sürpriz, which represented Germany in the Eurovision Song Contest in 1999.[29]

References

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  1. ^ a b c d www.reuters.com. 30 September 2024 https://www.reuters.com/markets/deals/ingram-micro-makes-us-ipo-filing-public-2024-09-30/. Retrieved 24 October 2024. {{cite web}}: Missing or empty |title= (help)
  2. ^ https://www.ingrammicro.com/en-us/company/about-us. {{cite web}}: Missing or empty |title= (help)
  3. ^ "Company Beginnings Story". Archived from the original on 2019-06-07. Retrieved 2018-05-18.
  4. ^ "Company Beginnings Story".
  5. ^ "Ingram Micro Buys Assets". Los Angeles Times. 1993-08-03. Retrieved 2020-12-29.
  6. ^ "Ingram Micro buys AVAD assets". www.bizjournals.com. Retrieved 2017-02-23.
  7. ^ Jacobson, Julie (5 July 2016). "AVAD Acquired by Private Equity Firm; Former Klipsch/Harman Execs to Lead the Co". www.cepro.com. Retrieved 2017-02-23.
  8. ^ Buenviaje, Edge. "Ingram Micro Continues To Grow With Manila Center". GIZGUIDE | Your Gadget Coach. Retrieved 2021-01-29.
  9. ^ "Ingram Micro Marks a Milestone – 10 Years of Rocking". INQUIRER.net. 2019-05-27. Retrieved 2021-01-29.
  10. ^ Agcaoili, Lawrence. "US IT giant puts up new facility in Taguig". Philstar.com. Retrieved 2021-01-29.
  11. ^ Spring, Tom (8 April 2014). "Ingram Micro Ups Cloud Ante: Adds Partnerships, Channel Enhancements, Hosted Services". CRN. Retrieved 28 April 2014.
  12. ^ "New Logo for Ingram Micro". ocbj.com. 2014-06-23. Retrieved 2016-02-18.
  13. ^ "Ingram Micro Completes Acquisition of Odin Service Automation Platform and Associated Technologies, Solidifying Leadership Position in the Cloud". prnewswire.com. 2015-12-21. Retrieved 2016-08-02.
  14. ^ "Ingram Micro Annual 10K report for the fiscal year ending Jan 2, 2016; Note 4 — Acquisitions, Goodwill and Intangible Assets". sec.gov. 2016-02-25. Retrieved 2016-08-02.
  15. ^ "Ingram Micro Enters Into Agreement to be Acquired by Tianjin Tianhai to Become a Part of HNA Group". February 17, 2016. Archived from the original on June 7, 2019. Retrieved November 17, 2017.
  16. ^ a b "天津天海投资发展股份有限公司重大资产购买暨关联交易实施情况报告书" (PDF) (Press release) (in Chinese). GF Securities c/o Tianhai Investment. 12 December 2016. p. 11 – via Shanghai Stock Exchange.
  17. ^ "Ingram Micro Sold to Chinese Company for $6 Billion". The New York Times. 2016-02-18. Retrieved 2016-02-18.
  18. ^ "Ingram Micro and HNA Group Announce Completion of Acquisition". Business Wire. December 6, 2016. Archived from the original on June 7, 2019. Retrieved November 17, 2017.
  19. ^ "Ingram Micro Enhances Capabilities in the U.K. to Provide High Value Network and Data Center Solutions with Acquisition of Comms-care Milton Keynes, U.K."
  20. ^ "Ingram Micro's DocuSign deal gets cloud treatment in Australia". ARN. Archived from the original on 2019-06-07. Retrieved 2017-10-18.
  21. ^ "Ingram Micro Expands Cybersecurity Capabilities with Acquisition of Cloud Harmonics". Archived from the original on 2019-06-07. Retrieved 2018-05-18.
  22. ^ "Ingram Micro Announces the Formation of CloudBlue, a New Cloud Platform Division". Archived from the original on 2019-06-07. Retrieved 2018-05-18.
  23. ^ "Platinum Equity To Acquire Ingram Micro For $7.2 Billion". PR Newswire. December 9, 2020.
  24. ^ "Platinum Equity Completes Acquisition Of Ingram Micro For $7.2 Billion". PR Newswire. July 7, 2021.
  25. ^ "CEVA Logistics, a subsidiary of CMA CGM Group, to integrate Ingram Micro CLS to complete its eCommerce and omni-channel fulfilment offering | CEVA Logistics".
  26. ^ "Ingram Micro Previews Future Xvantage™ Platform at Cloud Summit 2022".
  27. ^ "Ingram Micro Launches Xvantage in the US and Germany".
  28. ^ "Chris Lee admits to 'mistake' that led to firing frorm (sic) job in 1989". thebatavian.com. 2008-11-01. Retrieved 2016-02-18.
  29. ^ "Ingram Micro DE Ansprechpartner". Archived from the original on 2017-02-18. Retrieved 2017-02-17.

See also

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