Ingram Micro of Santa Ana to Buy Distributor
Ingram Micro Inc. agreed to buy Tech Data Corp.'s majority interest in German computer products distributor Macrotron AG for $100 million in cash, the companies said Wednesday.
Ingram Macrotron, as Macrotron will be renamed, places Santa Ana-based Ingram Micro “solidly as one of the top three computer distribution companies in Europe,” said Ingram Micro Europe President Philip D. Ellett. Macrotron also operates in Austria and Switzerland and had revenue of $1.17 billion in 1997.
The transaction, which is expected to be completed by July 31, is contingent on Tech Data completing its proposed acquisition of 80% Germany’s Computer 2000 AG as well as other considerations, the companies said.
“It would be difficult to manage and integrate the operations of Macrotron and Computer 2000, as both companies are publicly traded and have minority shareholders,” said Tech Data’s chairman and chief executive, Steven A. Raymund.
Tech Data acquired Macrotron last year and holds 99% of Macrotron’s outstanding common shares and 91% of its preferred stock, the company said. Tech Data’s $405-million purchase of Viag AG’s controlling stake in computer distributor Computer 2000 AG was cleared by European Union regulators last week.
Macrotron’s suppliers include 3Com Corp., Canon Inc., Compaq Computer Corp., Hewlett-Packard Co. and Microsoft Corp., the companies said.
Shares of Ingram Micro, the world’s largest distributor of technology products, dropped 25 cents to $39.63 on Wednesday, while shares of Clearwater, Fla.-based Tech Data were off 75 cents to $37.