CCI approves proposed acquisition of 100% stake in Ingram Micro by Imola Acquisition Corporation
12 May 2021
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The Competition Commission of India (CCI) has approved the proposed acquisition of 100 per cent shareholding and sole control of Ingram Micro Inc by Imola Acquisition Corporation.
The proposed combination involves the proposed acquisition of 100 per cent shareholding and sole control of Ingram Micro Inc together with its parent companies such as GCL Investment Management Inc and GCL Investment Holding Inc and its direct and indirect subsidiaries (collectively referred to as Ingram Micro).
Imola is a newly incorporated entity belonging to Platinum Equity Group. Platinum Equity Group specialises in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of businesses, including information technology, telecommunications, logistics, metal services, manufacturing and distribution.
Ingram Micro is a US headquartered IT company that specialises in technology distribution and logistics, cloud solutions, and e-commerce supply chain services.
CCI said it would issue a detailed order in the coming days.
