Ingram Micro Inc. (IM) said Monday that it has completed its acquisition of Brightpoint, Inc. (CELL) for $9.00 per share in cash.
The addition complements Ingram Micro's position as the world's largest technology distributor by creating a global provider of device lifecycle services and solutions for the mobile industry.
The acquisition, initially announced on July 2, supports Ingram Micro's long-term growth strategy to expand the company's business in high growth markets, while increasing its services and solutions capabilities. BrightPoint brings more than 25,000 B2B customers and over 100,000 points of sale across the globe, along with operations in 27 countries and sales in more than 75 countries around the world.
The companies' combined businesses, as of the end of each company's 2011 fiscal year, had annual revenues of more than $41 billion, with operations in more than 30 countries.
Ingram Micro expects to realize annual cost synergies and efficiencies in excess of $55 million by 2014, and the acquisition is expected to be accretive to earnings per share by $0.18 in 2013 and $0.35 in 2014, excluding one-time charges and integration costs.
Following the acquisition, BrightPoint will initially be led by Shailendra Gupta, Ingram Micro senior executive vice president and president Asia-Pacific.
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