Ingram Micro Buys Consumer Electronics Player
The IT distribution giant sees more convergence between commercial and consumer technologies.Ingram Micro signed a $96 million deal to acquire part of DBL Distributing Inc., a U.S. consumer electronics distributor. The IT technology distribution giant said the acquisition marked another step forward in its consumer electronics strategy and another sign the space between consumer and commercial technologies is thinning. "This strategy positions Ingram Micro at the forefront of two significant trends: the continuing convergence of commercial and consumer technologies and the growing importance of retailers in the marketplace," said CEO Greg Spierkel in a statement. "The transaction is an example of how we plan to deploy capital in the futurethrough strategic acquisitions that spur growth, enhance profitability and expand our addressable market."
The Scottsdale, Ariz.-based DBL has 350 employees and offers more than 17,000 consumer electronics products to thousands of independent retailers across the United States, according to Ingram Micro. The company reported 2006 sales of nearly $300 million, following four years of double-digit sales growth, with gross and operating margins double those of Ingram Micros core distribution business.