Ingram Micro has acquired retail point-of-sale (POS) distributor, Vantex, as part of plans to expand its presence in that market.
In a press statement, Ingram’s global CEO, Greg Spierkel, said the acquisition of Vantex was part of its strategy to expand its global presence in the growing data capture/POS market. The deal gives it operations across Australia, NZ, Malaysia, Singapore and Thailand.
“We’ve been making small, yet strategically significant acquisitions of DC/POS players in Europe and North America for nearly five years,” he said in the statement. “We now hold the number-two share position in the United States and Europe, and we look forward to being a leader in Asia-Pacific.”
According to a statement posted on the New Zealand Stock exchange by Vantex’s parent company, ProvencoCadmus, Ingram has put down a $NZ2 million ($1.55 million) deposit for the net assets, subject to completion and goodwill. The final purchase price was not outlined, but is payable in cash. The deal should close by May 31, subject to third-party and shareholder approval.
Vantex distributes a range of retail POS, barcoding, cash register, DC and wireless products to resellers. Its major brands include Motorola, Wasp, Toshiba, IBM, MYOB, NEC, Cherry and Datalogic. The company generated revenues of $US83 million ($114 million) in its fiscal year ended June 30, 2008.
“The conditional sale to Ingram Micro is a significant step in the recapitalisation strategy as advised to shareholders, with proceeds to be applied to reduce ProvencoCadmus’ bank debt,” ProvencoCadmus said in its statement. The sale of Vantex is expected to realise up to $NZ22.5m million including collection of retained debtors. ProvencoCadmus will also put aside $2m to support warranty claims for 12 months.
Once completed, Vantex will operate as a division of Ingram Micro, headed by CEO, Matt Maley. He will report directly to Ingram vice-president A/NZ, Jay Miley.
“We are in a growing market, and with the ability to draw on Ingram Micro’s expertise, strength and global reach, we’re looking forward to continuing to expand our business,” Maley said in the statement. “We’re also keen to leverage the experience Ingram Micro has in the DC/POS market in other parts of the world.”
Ingram stepped into the Australian DC/POS market in January 2007 with a dedicated division run by business manager, Linda Pifat. It focuses on retail POS equipment, barcode scanners, Automated ID and Data Capture products. Vendors include NCR, IBM, Datalogic, HP and Wasp.
Over the past five years, Ingram has acquired six POS and data capture distributors across 15 countries.