Ingram Micro Inc. (IM), a technology distributor and supply-chain services provider, and Brightpoint, Inc. (CELL), a provider of device lifecycle services to the wireless industry, have entered into a definitive agreement for Ingram Micro to acquire all outstanding shares of BrightPoint for $9.00 per share in cash.
The transaction is valued at around $840 million, including the value of $190 million of BrightPoint's estimated debt net of cash, as of June 30.
The offer price marks a 66 percent premium to BrightPoint's closing stock price on June 29. The transaction is expected to close before the end of the year.
The combined company will have an expanded global geographic footprint and customer base in the growing and strategically important mobility market.
Ingram Micro expects annual cost synergies and efficiencies of $55 million by 2014. The transaction is expected to be accretive to earnings per share by at least 18 cents in 2013 and 35 cents in 2014, excluding one-time charges and integration costs.
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