Ingram Buys Stake

Ingram Micro Inc., moving to solidify its presence in the Asian market, said Monday it will pay an estimated $66.8 million for a minority stake in a Singapore company that distributes electronics components.

Ingram, the world’s biggest wholesale computer parts distributor, will pick up 21% of Electronic Resources Ltd.’s stock, or 50 million shares. The Orange County company has an option to buy another 8.4% of Electronic Resources’ shares by April 1999, Ingram officials said.

Electronic Resources is one of the largest regional distributors, particularly of Intel Corp.’s semiconductors, in the Asia Pacific region. The company recorded revenue of $650 million last year, and its sales and operating profits have been doubling every year since 1993, Ingram officials said.

Ingram’s Asian operations in Singapore and Malaysia will be transferred to Electronic Resources as part of the agreement. Gregory M. Spierkel will remain president of Ingram Micro Asian Pacific, and will join the board at Electronic Resources.