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Ingram Micro makes binding offer for Anovo

by Stuart Wilson, Friday 28 November 2014

Distribution giant Ingram Micro is looking for a bigger slice of the pie in device lifecycle services. Ingram Micro has made a binding offer to buy France-based Anovo, a provider of reverse logistics and repair services for products such as smartphones and set-top boxes across Europe and Latin America. Ingram Micro claims that upon completion the deal will strengthen its position as a global provider of device lifecycle services, while also boosting its relationships with top telecom operators and OEMs.

Alain Monie, CEO at Ingram Micro, said: "Our intent to acquire Anovo is well aligned with our strategic growth initiatives to expand our services offerings globally and will greatly broaden our capabilities in the European and Latin American markets, two regions that are experiencing robust growth with the proliferation of mobile devices, accessories and wearables."

"Anovo’s core service offerings, infrastructure, client relationships and high-calibre management team will further strengthen Ingram Micro’s global technology lifecycle services capabilities and we believe this addition will be an excellent complement to our ongoing operations," he added.

The deal is expected to complete in early 2015. Anovo will contribute more than US$300m in annual sales and be modestly accretive to Ingram Micro’s non-GAAP diluted earnings per share. The deal is subject to customary closing conditions, including consultation of the Anovo works council and approval of the EU competition authorities. Both companies continue to operate as separate entities. Further details were not disclosed.

Francois Lacombe, CEO of Anovo, said: "The expertise, service offerings and established relationships we’ve built with industry leading companies make this acquisition a strong fit for both Anovo and Ingram Micro."

Lacombe continued: "Upon completion of the deal, I am confident Anovo will bolster Ingram Micro’s already robust service offerings with additional geographic reach, as well as complimentary expertise in repair, refurbishment, reverse logistics and returns-avoidance solutions.”

Lacombe will continue to lead Anovo and will report directly to Shailendra Gupta, president at Ingram Micro Mobility once the deal is complete. Anovo employs 5,000 people across 11 countries and is a leading provider of reverse logistics and repair within the technology market place.

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