Ingram Micro Solidifies Leadership Position in the Cloud With Acquisition of Odin Service Automation Platform
(Thomson Reuters ONE) -
Addition of Automation Platform, Technology, Engineering and Software
Development Expertise Expected to Accelerate and Broaden Ingram Micro's Cloud
Ecosystem Strategy
IRVINE, CA--(Marketwired - Dec 2, 2015) - Ingram Micro Inc. (NYSE: IM) today
announced that it has entered into an agreement to acquire certain assets from
Parallels Holdings Ltd. ("Parallels"), a leading provider of commercial cloud
management platform technologies, connectors, billing systems and professional
services. Under the terms of the transaction, Ingram Micro will acquire the
Parallels Odin Service Automation platform along with associated cloud
management technologies, intellectual property and the Odin brand. In addition,
approximately 500 Odin employees, many of whom are software engineers with cloud
expertise, are expected to join Ingram Micro. As a part of the Ingram Micro
Cloud division led by executive vice president Nimesh Dave, these employees will
continue to drive further innovation and development of the Odin automation
platform and Ingram's cloud service offerings as members of the Ingram Micro
Cloud division.
This transaction solidifies Ingram Micro's position as a leading master Cloud
Services Provider (mCSP), with a comprehensive offering designed to support
partner transformation and cloud enablement to help businesses take advantage of
a rapidly expanding portfolio of cloud solutions. Ingram Micro adopted and began
licensing the Odin Service Automation platform in 2013 as the backbone of the
company's automated Cloud Marketplace. Leveraging Odin technology, Ingram
Micro's automation platform provides access to a cloud ecosystem with unrivaled
potential for leading cloud innovators and OEMs to immediately broaden the reach
of their cloud solutions and technologies to businesses throughout the
world. Additionally, Ingram Micro's cloud automation platform provides partners
the ability to sell their solutions to millions of customers via Ingram Micro's
wide reaching channel of resellers, telcos/carriers, hosting companies, MSPs
(Managed Service Providers), system integrators and suppliers. As a part of the
growing Ingram Micro Cloud portfolio of technology and business solutions, Odin
Service Automation will operate as a business unit of Ingram Micro. The
transaction, which is subject to certain closing conditions, is expected to
close in December 2015 and is not expected to materially impact Ingram Micro's
2016 financial results.
Ingram Micro CEO Alain Monié commented, "In recent years, the launch of Ingram
Micro's automated cloud platform and marketplace has positioned our Company at
the forefront of the evolution and adoption of cloud solutions by businesses
throughout the world. Now the time has come for us to expand our capabilities by
owning the intellectual property that is helping to drive this technology
evolution. Odin Service Automation leads in cloud provisioning management and is
an established industry standard for integrated cloud services. Our announcement
today demonstrates Ingram Micro's confidence in the technology and talent that
Odin has cultivated, as well as our belief that the Odin Service Automation
platform will play a significant role in how businesses consume technology in
the cloud. We intend to continue to enhance the capabilities of the Odin Service
Automation platform, while also consistently bringing additional functionality
to our combined cloud solutions. Together, Ingram and Odin will offer the ideal
combination of expertise, knowledge and commercial relationships with leading
cloud OEMs and innovators, which will enable our combined partner portfolio of
285 telcos, 4,000 hosting companies and 200,000+ resellers worldwide to thrive
by lifting their customers businesses to the cloud."
The combination of Odin's industry leading cloud platform, related intellectual
property and deep technological expertise and Ingram Micro's extensive breadth
of commercial relationships, positions the Odin Service Automation Platform as
the premier hosting environment for Independent Software Vendors (ISVs), Cloud
Service Providers (CSPs) and OEMs who want to connect cloud commerce to
customers.
Parallels CEO Birger Steen said, "Odin is excited to join forces with Ingram
Micro, whose early vision to dedicate significant assets and make the
investments required to develop a comprehensive cloud services ecosystem
demonstrates unique foresight and has resulted in robust capabilities and a
clear leadership position. With this transaction, businesses utilizing Odin
Service Automation now have access to an expanded portfolio of cloud solutions
and services, providing them the opportunity to easily increase their reach and
build new revenue streams, while significantly accelerating time to market.
Additionally, Odin Service Automation customers benefit from the buying power,
commercial relationships, strength and engineering capabilities of a global
company. I am confident this event will be viewed as a pivotal strategic
milestone in the evolution of the cloud ecosystem."
Monié continued, "The addition of the Odin Service Automation team and expertise
further establishes Ingram Micro's cloud leadership and enhances our ability to
define how cloud offerings are provided and consumed globally. We welcome the
Odin team into our organization."
Parallels will maintain ownership of its two other major service provider
business units Plesk and Virtuozzo, which will be structured as separate
companies. Both product lines will be available for Ingram Micro to resell to
its customers.
About Odin Service Automation
The Odin Service Automation technology platform provides a single, centralized
management console for managing the offer and delivery of cloud services, and
supports multiple tiers of service resellers with customizable white-labeled
customer-facing websites to initiate ordering and provisioning. Odin Service
Automation delivers an out-of-the-box, customizable storefront that can be
linked to an existing website. It includes customer self-enrollment with built-
in fraud screening, and can be configured to support custom purchase workflows.
Sales-representative-assisted customer enrollment is also supported via the
service provider control panel.
About Ingram Micro Cloud
Ingram Micro is a master cloud service provider (mCSP), offering channel
partners and professionals access to a global marketplace, expertise, solutions
and enablement programs that empower organizations to configure, provision and
manage cloud technologies with confidence and ease. For more information on
Ingram Micro Cloud, please visit www.ingrammicrocloud.com.
The Ingram Micro Cloud Marketplace is an ecosystem of buyers, sellers and
solutions that empowers channel partners and IT professionals to configure,
provision and manage cloud technologies with confidence and ease. The Cloud
Marketplace enables efficient management of the complete end-customer cloud
subscription lifecycle from a single, automated platform, and will offer an end-
to-end portfolio of vetted solutions that covers all major business categories
including; infrastructure, security, communication & collaboration, business
applications and platform and cloud management services.
About Ingram Micro Inc.
Ingram Micro helps businesses realize the promise of technology. It delivers a
full spectrum of global technology and supply chain services to businesses
around the world. Deep expertise in technology solutions, mobility, cloud, and
supply chain solutions enables its business partners to operate efficiently and
successfully in the markets they serve. More at www.ingrammicro.com.
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995
The matters in this press release that are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, including statements
relating to the expected benefits from new wins and market share and our ability
to enhance earnings power, are based on current management expectations. Certain
risks may cause such expectations to not be achieved and, in turn, may have a
material adverse effect on Ingram Micro's business, financial condition and
results of operations. Ingram Micro disclaims any duty to update any forward-
looking statements. Important risk factors that could cause actual results to
differ materially from those discussed in the forward-looking statements
include, without limitation: (1) changes in macro-economic and geopolitical
conditions can affect our business and results of operations; (2) our
acquisition and investment strategies may not produce the expected benefits,
which may adversely affect results of operations; (3) we are dependent on a
variety of information systems, which, if not properly functioning, and
available, or if we experience system security breaches, data protection
breaches or other cyber-attacks, could adversely disrupt our business and harm
our reputation and net sales; (4) the validity, subsistence and enforceability
of our patent portfolio, that we currently hold or acquire may be challenged,
and we have a risk of being involved in intellectual property disputes that
could cause us to incur substantial costs, divert the efforts of management or
require us to pay substantial damages or licensing fees;(5) failure to retain
and recruit key personnel would harm our ability to meet key objectives; (6) we
operate a global business that exposes us to risks associated with conducting
business in multiple jurisdictions; (7) our failure to adequately adapt to
industry changes could negatively impact our future operating results; (8) we
continually experience intense competition across all markets for our products
and services; (9) termination of a key supply or services agreement or a
significant change in supplier terms or conditions of sale could negatively
affect our operating margins, revenue or the level of capital required to fund
our operations; (10) substantial defaults by our customers or the loss of
significant customers could negatively impact our business, results of
operations, financial condition or liquidity; (11) changes in, or
interpretations of, tax rules and regulations, changes in the mix of our
business amongst different tax jurisdictions, and deterioration of the
performance of our business may adversely affect our effective income tax rates
or operating margins and we may be required to pay additional taxes and/or tax
assessments, as well as record valuation allowances relating to our deferred tax
assets; (12) our goodwill and identifiable intangible assets could become
impaired, which could reduce the value of our assets and reduce our net income
in the year in which the write-off occurs; (13) changes in our credit rating or
other market factors, such as adverse capital and credit market conditions or
reductions in cash flow from operations may affect our ability to meet liquidity
needs, reduce access to capital, and/or increase our costs of borrowing; (14) we
cannot predict the outcome of litigation matters and other contingencies that we
may be involved with from time to time; (15) Our failure to comply with the
requirements of environmental regulations could adversely affect our business;
(16) we face a variety of risks in our reliance on third-party service
companies, including shipping companies, for the delivery of our products and
outsourcing arrangements; (17) changes in accounting rules could adversely
affect our future operating results; and (18) our quarterly results have
fluctuated significantly and (19) the Odin Service Automation transaction may
not be consummated; the intellectual property assets, licenses and services
obtained as a result of the transaction may be insufficient to operate the Odin
Service Automation business; technology platforms providing similar and/or
improved functionalities and capabilities to Odin Service Automation may be
launched, developed or otherwise repurposed that may significantly impair the
competitiveness of Odin Service Automation and the value of our investment; and
political risk in the countries in which we will employ the Odin Service
Automation research and development team may jeopardize the viability of the
Odin Service Automation business. There are additional contingencies associated
with each of the above identified risks. For example, in connection with our
acquisition strategy, we risk failing to realize the anticipated benefits of an
acquisition due to, among other things, the unsuccessful integration of an
acquired business. Despite its global presence, Ingram Micro may fail to
proactively identify and tap into emerging markets and geographies. We have
historically instituted, and will continue to institute, changes to our
strategies, operations and processes in an effort to address and mitigate risks;
however, there are no assurances that Ingram Micro will be successful in these
efforts. We also face a variety of risks associated with our ability to
integrate Odin Service Automation into our existing systems and organization
including: management's ability to execute its plans, strategies and objectives
for future operations, including the execution of integration plans; customer
demand in these regions; currency fluctuation; the potential for political
unrest; potential regulatory constraints; and our ability to achieve the
expected benefits and manage the costs of the transaction. For a further
discussion of significant factors to consider in connection with forward-looking
statements concerning Ingram Micro, reference is made to our SEC filings, and
specifically to Item 1A-Risk Factors, of our latest Annual Report on Form 10K.
Media Contact
Lauren Casillas
Grayling
602-349-5038
Lauren.Casillas(at)Grayling.com
This announcement is distributed by GlobeNewswire on behalf of
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ingram Micro Inc. via GlobeNewswire
[HUG#1970771]
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Datum: 02.12.2015 - 12:59 Uhr
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News-ID 437073
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