Ingram Micro Inc. and SOFTBANK Corp. form Strategic Alliance
PR Newswire, Monday, October 12, 1998 at 03:19
Exclusive Alliance Will Serve Global Value-Added Resellers
SANTA ANA, Calif., Oct. 12 /PRNewswire/ -- Ingram Micro Inc., the world's
leading wholesale distributor of technology products and services, today
announced it has entered into a strategic alliance with SOFTBANK Corp.,
Japan's largest distributor of software, peripherals and networking products,
for the distribution of computer-related products on a global scale. In
connection with the alliance, Ingram Micro will make a $50 million investment
in SOFTBANK, while SOFTBANK will take an equally valued position in Ingram
Micro. Additional terms and conditions of the alliance were not disclosed.
Jerre L. Stead, chairman and CEO of Ingram Micro, said: "We are very
excited to be entering into a strategic alliance with SOFTBANK, a company
recognized throughout the world for its excellent management team. Japan is
the second-largest IT market in the world, and, through this alliance, we are
now able to offer our vendor and customer partners enhanced global coverage.
Together, we will create a strong team that will improve business models and
operations by sharing industry knowledge and management expertise."
Said Masayoshi Son, president and CEO of SOFTBANK: "This partnership with
Ingram Micro will enable SOFTBANK to leverage its contacts with both customers
and suppliers in the Japanese market to provide higher levels of service to
each. The agreement will enable us to support our global customers more
completely and to provide superior, more consistent distribution for our
Japan-based suppliers. Moreover, our respective investments in each other are
important signals conveying our deep, mutual respect and commitment to long-
term market success together."
The overall goal of the alliance is to provide global account services to
value-added resellers, including establishing joint purchasing programs, while
leveraging each partner's business knowledge and expertise in the markets each
serves. Ingram Micro will be SOFTBANK's exclusive partner in the markets
outside Japan served by Ingram Micro. Similarly, SOFTBANK will fulfill Ingram
Micro's international sales in Japan. In addition, both companies are looking
at developing channel assembly capabilities in Japan in the near future.
About SOFTBANK Corp.
SOFTBANK Corp. is a leading provider of information and distribution
services for the digital information industry. In Japan, SOFTBANK is the
largest distributor of software and computer technology publications. In the
U.S. SOFTBANK owns approximately 72 percent of Ziff-Davis Inc. (NYSE:ZD), 31
percent of Yahoo! Inc. (NASDAQ:YHOO), 80 percent of Kingston Technology
Company, and 27 percent of E*Trade Group, Inc. (NASDAQ:EGRP).
About Ingram Micro Inc.
Ingram Micro Inc. (NYSE:IM), headquartered in Santa Ana, Calif., is the
world's leading wholesale distributor of technology products and services, and
a leading provider of assembly and integration services, with sales of $19.3
billion for the last four quarters. The company and its affiliates operate in
31 countries and distribute more than 145,000 products to more than 112,000
resellers in 120 countries. Ingram Micro can be found at www.ingrammicro.com.
FORWARD LOOKING STATEMENTS
Certain statements in this press release, may be forward-looking
statements that involve risks and uncertainties. Words such as "anticipates,"
"intends," "plans," "believes," "seeks," "estimates," and variations of such
words and similar expressions are intended to identify such forward-looking
statements. These statements are based on current expectations and
projections about the technology distribution industry and assumptions made by
Ingram Micro's management and are not guarantees of future performance.
Therefore, actual events and results may differ materially from those
expressed or forecasted in the forward-looking statements due to factors such
as those identified in exhibit 99.1 of Ingram Micro's annual report on form
10-k for the fiscal year ended January 3, 1998. Other risks or uncertainties
may be detailed from time to time in Ingram Micro's future Securities and
Exchange Commission filings. Ingram micro undertakes no obligation to update
any forward-looking statements in press release.
Ingram Micro is a trademark used under license by Ingram Micro Inc. All
other logos, brand names and product names are trademarks of their respective
companies.
SOURCE Ingram Micro Inc.
-0- 10/12/98
/CONTACT: Kirsten Frosh of Ingram Micro Inc., 714-382-2727 (U.S.),
kirsten.frosh@ingrammicro.com; or Shawn Schy of SOFTBANK Corp.,
(011) 81-3-5641-8415/
/Web site: ingrammicro.com |
