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Ingram Micro now planning an IPO

Ingram Micro now planning an IPO

Ingram Micro is planning an IPO after submitting a confidential draft registration statement to the US Securities and Exchange Commission.

The number of shares to be offered and the price range for the proposed offering have not yet been determined, said the global distributor.

Last July, Platinum Equity completed its acquisition of Ingram Micro from China’s HNA Technology Co., in a deal worth $7.2 billion.

The Irvine, California-headquartered firm generated sales of almost $50 billion in its fiscal 2020.

It operates in 60 countries, supports 1,600 vendors and has 170,000 customers and partners.

Earlier this month, Ingram Micro launched Xvantage, a digital experience platform ecosystem, initially in the US and Germany.

In May this year, Ingram Micro Cloud expanded the scope of its multi-year strategic collaboration agreement (SCA) with Amazon Web Services, with the aim of making it easier for its partners to win public sector business.