Ingram Micro buys leading Asia-Pacific IT distributor
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In a move the company says significantly strengthens its position in the growing Asia Pacific region, distributor Ingram Micro Inc.
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Worldwide sales leap Computer distie giant Ingram Micro said yesterday that it saw third quarter profit shoot up 15 per cent driven by strong sales in Asia and Europe.â¦
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Fisher &amp; Paykel Appliances Holdings Ltd., New Zealand&#39;s biggest home appliances maker, agreed to buy Dynamic Cooking Systems Inc.
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Technology distributor Ingram Micro has announced that it has signed an agreement to purchase Australian based company Tech Pacific for AU$700 million, in a move designed to strengthen its Asia Pacific presence.
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BT Group will buy California-based Infonet Services Corp for $965 million in cash to expand in the United States and Asia, the UK&#39;s dominant fixed-line company said on Monday.
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Yesterday, the company increased its Asian-Pacific market share with the purchase of Tech Pacific.
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Storage hardware vendor Iomega has signed a deal to buy sister hardware vendors indirectly owned by the Chinese government in an effort to expand the company&#39;s product line.Iomega will purchase ExcelStor Great Wall Technology, a Cayman Islands company, and Shenzhen ExcelStor Technology, a Chinese company, in a stock deal expected to close in mid-2008, said Thomas Kampfer, Iomega president and chief operating officer. The deal would nearly quadruple the size of Iomega with its revenue going from $300 million a year to about $1.1 billion a year, and the number of employees growing from less than 300 to about 3,000, Kampfer said.ExcelStor has built Iomega&#39;s Rev removable hard drive products since 2004, and more recently, it has built Iomega-branded USB hard drives, Kampfer said. The acquisition will help Iomega branch out into new products, he said, although the company isn&#39;t yet announcing what new products it&#39;s looking at.&quot;For quite some time ... we&#39;ve felt that we have a really great brand,&quot; Kampfer said. &quot;We&#39;ve been searching for ways to expand our product line and gain access to more products, to move ourselves beyond external storage. We haven&#39;t had the resources -- we haven&#39;t had the development resources, we haven&#39;t had the marketing resources. We just aren&#39;t big enough.&quot;In the deal, Iomega will issue about 84 million shares of its stock, worth about $139 million, in exchange for all outstanding ExcelStor shares. The deal would be one of the first times a U.S. company has acquired a company owned by the Chinese government, according to Iomega.The boards of directors at both Iomega and ExcelStor have approved the deal. The purchase must be approved by the Chinese government and shareholders.ExcelStor, which produces more than 20 million devices a year, designs and manufactures digital storage hardware, including hard drives and security storage products. The company sells its products under its own brand and also to original equipment manufacturers.In 2006, ExcelStor had revenue of $707.1 million, according to Iomega.ExcelStor is a subsidiary of Great Wall Technology Co. (GWT), a publicly traded company that manufactures computers and creates software and related products. GWT is an indirect subsidiary of China Electronics Corp., which is owned by the Chinese government.After the deal is completed, GWT and its affiliates will own about 43 percent of Iomega&#39;s stock, making GWT its largest shareholder. China Electronics indirectly owns 62 percent of GWT.Jonathan Huberman will continue as CEO of Iomega, and Kampfer will remain as president and COO, the company said. Eddie Lui, currently CEO of ExcelStor, will become executive chairman of Iomega.&#160;
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IBM has bought XIV, an Israeli manufacturer of SAN (storage area network) equipment. XIV&#39;s main product is Nextra, a storage system based on a grid of standard hardware components.
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US technology giant IBM is selling its personal computing business to China&#39;s biggest PC maker. The deal highlights China&#39;s growing economic clout and global reach.
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IBM is selling its PC-making business to China&#39;s largest personal computer maker, Lenovo Group Ltd. (0992.HK: Quote, Profile, Research
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TOKYO - China's Lenovo Group Ltd. signed a definitive agreement on Wednesday to acquire IBM Corp.'s personal computing division. Lenovo will pay US$1.25 billion in cash for the business, which is expected to transform it into the world's number three PC maker, the companies announced.
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Ingram Micro, a worldwide distributor of computer products, will acquire Tech Pacific for $493 million in cash, including debt. Ingram expects the deal to close by the end of 2004 and expects it to be accretive
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In a highly anticipated announcement, IBM (Quote, Chart) confirmed late Tuesday it is selling its PC division to China&#39;s Lenovo Group.
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InfoWorld - Ingram Micro will distribute Google&#39;s Search Appliance and Google Mini enterprise search devices, a deal intended to accelerate sales of the products, the companies announced Wednesday.
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IBM, the pioneer of the personal computer, is selling its PC hardware business to Chinese firm Lenovo.
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Hundreds of IBM employees at Research Triangle Park will soon be working for a new company. The Chinese computer giant, Lenovo Group, is buying IBM&#39;s personal computer division for nearly $2 billion.
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IBM Global Services has won a 10-year MYR 425m ($122m) IT services contract with Malaysian financial services group Affin Bank Bhd.