58.5 F
Laguna Hills
Tuesday, Apr 23, 2024
-Advertisement-

CMA CGM to Buy Most of Ingram Micro Unit

French shipping group CMA CGM said today it had agreed to acquire most of  Ingram Micro’s Commerce & Lifecycle Services (CLS) business in a transaction valued at $3 billion.

Marseille-based CMA CGM said the deal includes Shipwire and the company’s technology forward logistics businesses in North America, Europe, Latin America and Asia-Pacific.

“The remaining portions of the existing CLS business will be retained by Ingram Micro,” according to CMA CGM.

“CMA CGM Group is committed to investing in the technology, capabilities, and talent to rapidly become one of the world’s largest players in the global ecommerce space,” Alain Monié, CEO of Irvine-based Ingram Micro, said in the announcement of the transaction.

Monié added: “With a mission of enabling businesses to grow and communities to thrive, I am confident this is an excellent fit for our dynamic, innovative, and solutions oriented CLS team.”

Private equity firm Platinum Equity of Los Angeles in July completed its $7.2 billion buy of Ingram, an electronics and technology distribution giant. 

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-