Ingram Micro has been bought by Chinese aviation and shipping conglomerate HNA Group for about $6bn (£4.2bn).
According to a statement, the firm’s executive management team will stay in place, with Alain Monié continuing as chief executive.
Once the deal is finalised and approved, Ingram will operate as a subsidiary of Tianjin Tianhai and become part of the HNA Group, but its HQ will remain in Irvine. The statement also stressed that all Ingram Micro lines of business and all regional and country operations are “expected to continue unaffected.”
Adam Tan, CEO of HNA Group, stated: “Ingram Micro has clearly established itself as a leading distributor and global provider of IT products and services. The company has a proven and talented team and we believe Ingram Micro is unrivalled in its ability to offer industry-leading, differentiated and easy-to-manage solutions to vendor and customer partners worldwide. We look forward to supporting Ingram Micro's management team and strategies, including continued expansion into new geographies, while also offering their vendor and customer partners access to new and complementary offerings.
“We share Ingram Micro's commitment to integrity, innovation and performance and we are confident this transaction will enable Ingram Micro to continue to distinguish itself in the marketplace and meet the needs of its vendor and customer partners better than ever before."
He continued: "After the transaction, Ingram Micro would become the largest member enterprise of HNA Group in terms of revenue, and facilitate the internationalisation process of the group. With the help of Ingram Micro, HNA Group would have access to business opportunities in emerging markets, which have higher growth rates and better profitability. Furthermore, 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."
Monié said: "Our agreement to join HNA Group delivers near-term and compelling cash value to our stockholders and we expect it to provide exciting new opportunities for our vendors, customers and associates. Innovation, new services introduction, brand management and ensuring the stability and continuity of the businesses joining their enterprise are fundamental to HNA Group's overall strategy.
"As a part of HNA Group, we will have the ability to accelerate strategic investment, as we continue to capitalise 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 organisation 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."
He added: "HNA Group is committed to maintaining the leadership teams and core values that have made Ingram Micro a trusted partner and industry leader, and as a part of a larger organisation, our global associates will have the added opportunity to expand their career objectives while remaining dedicated to Ingram Micro's core principles. We are delighted to join forces with HNA Group, a partner who shares our vision for Ingram Micro and is committed to accelerating the growth of our business to provide innovative solutions across the IT ecosystem."
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