Ingram buys TechPac for $700m
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TECHNOLOGY distributor Tech Pacific has put paid to speculation that it would float on the sharemarket, opting instead to sell out to local rival, US giant Ingram Micro, for $700 million.
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Yesterday's $70.8 million acquisition of Charter Financial Corp. by Boston Private Financial Inc. positions Boston Private to try to sweep up millions of dollars in new wealth that it believes is piling up in the Northwest.
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Blockbuster Inc., facing new attacks from big retailers and online operators, has offered $700 million for rival Hollywood Entertainment Corp.
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CSC has a distinguished history in IT, and its latest deal comes to $3.73 billion.
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General Growth Properties Inc. said on  Friday it would buy Rouse Co. for $7.2 billion, adding such  shopping centers as Chicago's Water Tower Place and Boston's  Fanueil Hall to what is already the nation's second largest  mall portfolio.
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(InfoWorld) - Network equipment manufacturer Avaya Inc. late Monday agreed to a $8.2 billion cash buyout by private equity firms TPG Capital LLP and Silver Lake Partners, the companies announced. This latest acquisition continues a recent trend of networking and telecommunications firms being bought by private equity firms. In late May, TPG and Goldman Sachs Group Inc.'s private equity arm bought mobile service provider Alltel Corp. for $27.5 billion. Bell Canada Ltd. remains a takeover target of a potential bid by Cerberus Capital Management LP. The Basking Ridge, New Jersey company's board of directors have accepted a $17.50 per share offer, which must still be approved by Avaya shareholders. The offer places a premium of around 28 percent on the firm's value over Avaya's May 25 closing price of $13.67, the last day beforeÂ rumors begun to circulateÂ that the company would likely be acquired. The deal is expected to close in the fall of this year, the companies said. The agreement allows Avaya to actively encourage bids for the company from other third parties over the next 50 days. Avaya's relatively high cash flow and low debt made it a target to go private. Along with TPG and Silver Lake, Nortel Networks Corp. was also pursuing the former AT&T telecom equipment maker. Â
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An investment group that includes Christian Laettner and his former Duke teammate Brian Davis has reached an agreement to buy 70 percent of the Memphis Grizzlies.
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(InfoWorld) - Ingram Micro will distribute Google's Search Appliance and Google Mini enterprise search devices, a deal intended to accelerate sales of the products, the companies announced Wednesday. Google, which has sold about 9,000 of the devices to date, expects the distribution deal with Ingram to boost sales in particular among SMBs. Ingram, with its distribution network of more than 165,000 retailers and resellers worldwide, is also expected to help increase sales internationally as well as in the government and education sectors. "The only way to meet the growing demand for the products is to go through channels," said Rodrigo Vaca, channel marketing manager of the Google Enterprise unit. Vaca declined to provide details of the effect Google hopes the deal will have on sales. "We expect this to have a significant impact," he said. Google already has deals in place with regional distributors in Japan, Australia, and parts of Latin Americaand expects the Ingram relationship to be complementary to those arrangements, Vaca said. The Ingram deal will initially focus on the U.S. and will expand to other regions like Latin America, Europe, and Asia-Pacific later this year, he said. So far, Google has sold the products almost exclusively via its own direct sales staff in the U.S. and Europe. "Our strategy is to have our direct sales force work hand-in-hand with the channel," he said. As part of the agreement, Ingram will provide sales assistance, marketing resources, credit help, and technical support to the resellers that carry the Google products. The Ingram deal isn't exclusive, Vaca said. In a news release, Ingram, which distributes hundreds of thousands of IT products from about 1,400 suppliers, said the deal strengthens the menu of wares it can offer to its channel partners. The Search Appliance and Google Mini are server-side hardware devices loaded with Google's search engine software designed to let companies index and find information stored on corporate servers. Although Google generates most of its revenue from search engine advertising in the consumer market, company officials have said they are committed to its Enterprise unit, which, in addition to the search devices, also markets business software. The Google Mini, designed for SMBs or departments within large organizations, starts at $1,995 with a capacity to index 50,000 documents. It tops out at 300,000 documents. The Search Appliance, which is more powerful and has more features, starts at $30,000 with a 500,000-document capacity and tops out at 30 million documents. The Google products typically cost less than more sophisticated enterprise search products and are designed to be easier to install, manage, and use. However, analysts generally agree that the Google products don't match the feature set of high-end enterprise search products from companies like Autonomy and Fast Search & Transfer.
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NEW YORK, September 27  - Ingram Micro Inc (IM.NYS) has reached a definitive agreement to buy Tech Pacific, an Australian IT product distributor, for about $493 million in cash, including debt assumptions.
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Networking hardware and software maker 3Com Corp. said Monday that it agreed to buy TippingPoint Technologies Inc. for $430 million in cash in a move to strengthen its security offerings for business customers.
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A Chicago developer of regional shopping malls said today it will buy Maryland's The Rouse Co. for about $7.2 billion.
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U.S. antitrust authorities said on Tuesday they had approved plans by Blackstone Group LP  to buy Alliance Data Systems Corp.  for $6.76 billion.
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Shares of Herndon-based government information technology contractor DigitalNet gained as much as 27 percent in Monday trading, after a weekend buyout offer from BAE Systems.
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A private equity group led by Appaloosa  Management LP and Cerberus Capital Management LP will invest up  to $3.4 billion in bankrupt auto parts maker Delphi Corp.  , giving the investors a large stake when the company  emerges from bankruptcy, Delphi said on Monday.
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he Rouse Company, the mall developer and manager that has helped reshape the nation&#39;s landscape, agreed yesterday to be acquired by General Growth Properties, the big owner of shopping centers, for $7.
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Delphi said yesterday that it had accepted an offer led by private-equity firm Appaloosa Management to invest as much as $2.55 billion in the bankrupt auto-parts maker.
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The luggage maker Samsonite said that it had agreed to be bought by the private equity firm CVC Capital Partners in an all-cash deal of about $1.7 billion, including assumption of debt.