Technology distributor Ingram Micro Inc. said it has agreed to purchase BrightPoint Inc., a provider of logistics services to the wireless industry, for about $840 million, the companies announced in a joint statement July 2.
The deal will add to Ingram Micro’s suite of logistics services while expanding the combined company’s global reach in the “rapidly growing and strategically important” mobility market, the companies said.
Ingram Micro Logistics, a unit of Ingram Micro, Santa Ana, Calif., ranks No. 27 on the Transport Topics Top 50 list of the largest logistics companies in North America. It serves the electronics, manufacturing and retail industries.
BrightPoint North America, a unit of BrightPoint Inc., Plainfield, Ind., an Indianapolis suburb, ranks No. 43 on the TT Top 50 list.
Under the terms of the deal, Ingram Micro will buy all the outstanding shares of BrightPoint’s common stock for $9 a share in cash, a 66% premium to BrightPoint’s closing stock price on June 29 and a 35% premium to the 90-day average trading price, the companies said.