US tech distribution giant Ingram Micro has significantly expanded its presence in Asia Pacific with the purchase of Sydney-based Tech Pacific.
Ingram will pay $700m for the 23 year old operation, which had revenues of AUS3.1bn ($2.2bn). Ingram said the deal should be accretive to its 2005 earnings. Tech Pacific claims to be market leader in Australia and New Zealand as well as the strategic emerging market of India.
Ingram said the deal will double its presence across the region in terms of revenues, and will significantly boost its profitability in the region.