Ingram Micro completes acquisition of Brightpoint
SANTA ANA, Calif. (AP) — Ingram Micro Inc. said Monday that it completed its roughly $650 million acquisition of mobile services provider Brightpoint Inc.
The deal improves the breadth of products and geographic reach of the Santa Ana, Calif.-based technology products company.
Ingram is paying $9 per share for Brightpoint.
"Independently, each company is a respected industry leader. Together, we are a stronger global leader," Alain Monie, president and CEO of Ingram Micro, said in a statement.
BrightPoint will initially be led by Shailendra Gupta, Ingram Micro's senior executive vice president and president of its business in the Asia-Pacific. He will be assisted by a team of individuals from each organization.
Ingram's shares rose 10 cents to close at $14.96. Its stock remains at the low end of its 52-week trading range of $14.42 to $19.80.