Distribution giant Ingram Micro is to buy reverse logistics and repair firm Anovo as part of its wider plans to drive into the global services sector.
The move follows exclusive talks between Ingram Micro and Anovo owners Butler Capital, which began in June this year.
The deal, estimated to be worth $100m, is expected to be sealed in early 2015, subject to EU approval, and will see Anovo contribute more than $300m in annual revenue to the Ingram Micro pot.
The French company will also bring Ingram Micro an international portfolio of business and relationships with some of the world’s largest telecoms operators. It has over 5,000 associates across 11 countries, dealing with more than 20 million devices worldwide annually, including smartphones, computers, touch screen tablet devices, triple play set top boxes, home gateways, game consoles, e-readers, TVs and printers.
Francois Lacombe, CEO of Anovo, will continue to lead the company and report directly to Shailendra Gupta, president at Ingram Micro Mobility.
Alain Monie, chief executive officer at Ingram Micro, said: ‘Our intent to acquire ANOVO is well aligned with our strategic growth initiatives to expand our services offerings globally and will greatly broaden our capabilities in the European and Latin American markets, two regions that are experiencing robust growth with the proliferation of mobile devices, accessories and wearables.
He added: ‘ANOVO's core service offerings, infrastructure, client relationships and high-caliber management team will further strengthen Ingram Micro's global technology lifecycle services capabilities and we believe this addition will be an excellent complement to our ongoing operations.’
Lacombe said: ‘The expertise, service offerings and established relationships we've built with industry leading companies make this acquisition a strong fit for both ANOVO and Ingram Micro.
‘Upon completion of the deal, I am confident ANOVO will bolster Ingram Micro's already robust service offerings with additional geographic reach, as well as complimentary expertise in repair, refurbishment, reverse logistics and returns-avoidance solutions.’