SANTA ANA, Calif., Nov. 29, 2012 /PRNewswire/ -- Ingram Micro Inc. (NYSE: IM), the world's largest technology distributor and a global leader in IT supply-chain, mobile device lifecycle services and logistics solutions, today announced it will acquire Promark Technology, a value added distributor (VAD) with a core technology focus on data storage, data management and electronic document imaging products and services. Based in Annapolis Junction, Md., Promark also provides various federal and state contract vehicles, including a General Services Administration (GSA) schedule, which allows its authorized vendors and technology resellers to sell to the U.S. public sector market. Promark's revenues are estimated to be $100 million for the year ending December 31, 2012. Promark will retain its name and operate as a subsidiary of Ingram Micro.
The acquisition is scheduled to close Nov. 30, 2012 and is subject to customary closing conditions. Dale Foster, current CEO of Promark Technology, will continue to lead the company following the acquisition as executive director and general manager, reporting to Scott Zahl, vice president and general manager of Ingram Micro's Advanced Computing Division in the U.S. Further details of the transaction were not disclosed.
"The acquisition of Promark is another step forward in our strategy to strengthen Ingram Micro's position in higher value products and solutions, as well as extend our leadership and reach within the public sector," said Alain Monié, president and chief executive officer, Ingram Micro Inc."The acquisition of Promark gives us a deeper reach into the enterprise storage market while providing new federal, state and other U.S. government revenue opportunities for our partners through the GSA schedule," explains Paul Bay, acting president, Ingram Micro North America. "Together, we will drive revenue synergies by cross-selling Ingram Micro's current storage solutions to Promark's customers and offering our channel partners access to Promark's specialized product portfolio and established government contracts." "Being part of Ingram Micro provides Promark customers, vendor partners and associates with a vast array of business opportunities that were previously unavailable," said Foster. "We are excited to become a strategic part of the industry's global leader in IT supply-chain, mobile device lifecycle services and logistics solutions and see significant benefit in offering a wider range of information technology products to our customer base. Promark has been in business more than 20 years and remains focused on growth, customer service and offering a great working environment for our associates. We look forward to continuing to build upon this legacy as a part of Ingram Micro."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts