Ingram Micro's Monié fuels midmarket M&A fire


Ingram Micro's Monié fuels midmarket M&A fire

Alex Scroxton

Alain_Monie_PPT.jpgIngram Micro CEO Alain Monié has spoken again of his willingness to grow the business through acquisitions, pointing to the midmarket as a potential target.

Taking analyst questions on the broadliner's Q1 conference call, Monié said: "What we're looking at is really the midsize acquisitions that would really help us develop pillar-by-pillar or geography-by-geography.

"[But] we don't use size as a gate. We really look at the strategic fit with our financial goals as well as our strategic goals. If there was one that is of bigger size, we'd obviously consider it," added Monié, who replaced Greg Spierkel in January.

The firm made global sales of $8.6bn (£5.3bn), down 1% year-on-year but in line with expectations.

Net income, however, soared from $56.3m to $90m, partly as a result of residual favourable hard disk drive pricing, and partly from a one-off benefit taken after exiting its Argentinian business, which it ditched thanks to tough new importation laws.

In Europe, overall weakness drove down sales 8% to $2.6bn, with translation of regional currencies accounting for approximately four percentage points. Germany and the UK outperformed the rest of the region, said Monié.

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