Ingram Micro completes purchase of ANOVO
Deal was completed on February 27 and will see ANOVO management team remain in place
Distributors
March 2, 2015
Deal for repair and recycling provider that was agreed in November expected to go through in next few days
Ingram Micro is expected to complete its purchase of mobile phone repair and recycling provider ANOVO for an estimated £80 million in the next few days.
The deal will add around £190 million to the distributor’s revenues when the Paris-based company on completion.
An agreement to purchase the company was announced in November and has been waiting approval by EU anti-competition authorities.
ANOVO, which was founded in 1987, annually services more than 20 million products through 5,000 associates operating in 12 countries across Europe, Asia and Latin America.
It has repair contracts with a number of key handset manufacturers, retailers and mobile operators, including Samsung, Microsoft Mobiles, BlackBerry, Sony Mobile, LG, Huawei, Carphone Warehouse, Tesco, Asda, EE and O2.
At the time the deal was agreed, Ingram Micro chief executive officer 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.
“ANOVO’s core service offerings, infrastructure, client relationships and high-calibre 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.”