Story image

Ingram Micro parent company denies buyout claims

15 Jan 18

Ingram Micro's parent company Tianjin Tianhai has denied claims it is looking to sell off the global distributor.

As reported by Reuters, the Chinese company made a statement to the Shanghai Stock Exchange describing Ingram Micro as a important asset, while affirming that it isn’t looking to unload it anytime soon.

“Ingram Micro is an important, strategic investment project to the company and is a key cornerstone and asset to the company’s transformation and development,” the statement reportedly read.

The statement comes after reports that Tianjin Tianhai had suspended trading in Shanghai on Friday pending a “Major Announcement”, leading to speculation that an Ingram Micro buyout was imminent from sections of the media.

Such speculation suggested the global distribution juggernaut would be bought out by fellow distributor Synnex, marking a huge shift in the global distribution climate.

It’s still unclear why Tianjin Tianhai has suspended trading, although Bloomberg reports that the conglomerate that owns it - HNA - has been facing increasing pressure from banks about owed debts after a series of acquisitions totalling (USD) $40 billion since 2016.

Ingram Micro has been part of HNA just over a year, with the buyout finalised in late 2016.

At the time, HNA Group vice chairman and chief executive Adam Tan said the acquisition provided ‘significant’ opportunity for expansion of Ingram’s delivery platform and portfolio of solutions while providing capacity for accessing new markets.

“With its well-established supply chain management expertise and broad portfolio of easy-to-use technology solutions, Ingram Micro exemplifies HNA Group’s strategy of investing in companies with strong positions in growing markets in our core areas of focus,” Tan said.

Hillstone CTO's 2019 security predictions
Hillstone Networks CTO Tim Liu shares what key developments could be expected in the areas of security compliance, cloud, security, AI and IoT.
Can it be trusted? Huawei’s founder speaks out
Ren Zhengfei spoke candidly in a recent media roundtable about security, 5G, his daughter’s detainment, the USA, and the West’s perception of Huawei.
Oracle Java Card update boosts security for IoT devices
"Java Card 3.1 is very significant to the Internet of Things, bringing interoperability, security and flexibility to a fast-growing market currently lacking high-security and flexible edge security solutions."
How SMBs can use data to drive business outcomes
With the right technology, companies can capture consumer, sales, and expense data, and use it to evaluate and construct future plans.
Survey shows that IoT is RoI across Asia Pacific
A recent Frost & Sullivan survey across Australia, Hong Kong and Singapore shows that IoT deployment improves business metrics by around 12%.
IDC: Aussie spending on IT Services to hit $23.5B by 2023
the project-oriented market which is predicted to achieve the highest CAGR through to 2023; though no market is expected to decline
Sophos hires ex-McAfee SVP Gavin Struther
After 16 years as the APAC senior vice president and president for McAfee, Struthers is now heading the APJ arm of Sophos.
Security platform provider Deep Instinct expands local presence
The company has made two A/NZ specific leadership hires and formed several partnerships with organisations in the region.