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Tuesday, Jun 18, 2024
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Ingram Buys Company in Paris

Santa Ana-based Ingram Micro Inc. on Friday announced plans to acquire Anovo, a company in Paris that specializes in repairing and recycling devices such as smartphones and set-top boxes.

Anovo will operate as a separate entity under the deal, which is expected to close early next year.

Terms of the transaction were not disclosed.

Anovo is projected to add about $300 million in annual revenue and be “modestly accretive” for Ingram, the world’s largest distributor of computers, software and other technology products with annual sales of about $42.5 billion.

The buy underscores Ingram Chief Executive Alain Monie’s efforts to expand higher-margin business lines since taking the helm in 2012.

Anovo will extend Ingram’s reach in itsgrowing European and Latin American markets, servicing some 20 million products worldwide through a network of 5,000 associates across 11 countries.

The deal still needs approval from Anovo’s works council and European regulators.

Ingram shares are up about half a percent in afternoon trading to a market share of $4.28 billion.

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