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Record 2016 for Storit

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Record 2016 for Storit

Storit, the holding company of CMS Distribution, announces a record fiscal 2016 with revenue increasing by 82% over 2015 to £325 million. Profits are up by 126%, reaching £12.3m.

"Our Enterprise business continued to outpace the market, driving strong growth in security, information management, storage and open source technologies, along with our Retail channels, which also delivered high growth," CEO Frank Salmon says. "As our customers continue to deliver innovation around digital transformation, the business portfolio continues to drive change and open doors to new thriving markets.”

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Systemax Sells European Operations

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Systemax Sells European Operations

Systemax offloads nearly all of its European Technology Products Group (aka Misco)-- outside of still profitable operations in France-- for an undisclosed sum to Hilco Capital.

The transaction sees Misco acquired by a new company formed by the management buy-in team led by Hilco and former Selection Services CEO Alan Cantwell. Hilco is a specialist in taking over ailing businesses, having acquired the Staples UK retail business in November 2016 and HMV back in 2013.

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Tech Data Completes Avnet TS Acquisition

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Tech Data Completes Avnet TS Acquisition

Tech Data finalises the €2.45bn acquisition of Avnet Technology Solutions (TS) business, creating what the distributor describes as "a premier global IT distributor with unmatched capabilities."

The combined Tech Data-Avnet TS operates in 40 countries and has an end-to-end porfolio of solutions and services ranging "from the datacentre to the living room." Avnet TS also brings partnerships with 40 vendors addressing the needs of 20000 countries in over 80 countries.

"This is a momentous day in our company's history and we are excited to welcome our talented colleagues at Technology Solutions to the Tech Data family," Tech Data CEO Bob Dutkowsky says. "Our combined company is perfectly positioned at the epicentre of the IT ecosystem — with the scale and scope to serve dynamic markets throughout the world-- giving our customers access to an end-to-end portfolio of IT solutions and efficiently bringing our vendors' products to new customers in more markets."

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ALSO Buys into France With BeIP

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ALSO Buys into France With BeIP

ALSO starts 2017 with an acquisition-- specifically French networking and security specialist distributor BeIP. The two parties agreed to keep the buying price secret.

BeIP offers a network and security infrastructure porfolio featuring the likes of Barracuda, Aruba Networks and AirWave, as well as related support services, across France and Africa. It focuses on market verticals such as telcos, and hopes achieve 2016 revenues of €20 million, a 30% increase over the previous years.

Post-acquisition BeIP CEO Erwan Le Guin remains a minority shareholder in the company, and will continue working with ALSO.

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Strong Performance in Tech Data's Q3 2016

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Strong Performance in Tech Data's Q3 2016

Tech Data sees double-digit Y-o-Y growth in global non-GAAP operating income for fiscal Q3 2017-- specifically by 14% Y-o-Y, reaching $81.1 million, on net sales worth $6.49 billion, a 1% Y-o-Y increase.

European revenues (making 60% of the global sales) see a 1% Y-o-Y increase to $3.9bn, with non-GAAP operating income for the quarter growing by 11% Y-o-Y to $42.2m. On the other hand American sales are up by 2% Y-o-Y to $2.6bn as non-GAAP operating income grows by 16% Y-o-Y to $42.5m.

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ALSO Buys Bachmann Mobile Kommunikation

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ALSO Buys Bachmann Mobile Kommunikation

ALSO acquires a majority stake in Swiss after-sales specialist Bachmann Mobile Kommunikation, a deal the distributor hopes will increase turnover generated by services from 3 to 6% through "inorganic and inorganic growth."

The distie bought a 30% stake in Bachmann back in 2014, starting a "fruitful relationship" in after-sales services. ALSO describes Bachmann as the leading Swiss provider of repair and logistics services in CE and mobile communications after-sales market. Major customers the company serves include s Swisscom, Sunrise, Salt and Schweizerische Post

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Gerhard Schulz Leaves Ingram Micro

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Gerhard Schulz Leaves Ingram Micro

Ingram Micro announces European leader Gerhard Shulz is leaving the company for as yet unspecified reasons. No word is available on any potential replacements, either.

Schulz served at Ingram for over 15 years, and has been president of European Technology Solutions since 2013. Prior to his promotion he led the Ingram distribution business across DACHH, covering operations in Germany, Austria, Switzerland and Hungary. He also served as managing director of Ingram's German business, as well as other senior sales posts in the country.

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ALSO Continues Growing in H1 2016

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ALSO Continues Growing in H1 2016

The ALSO Group announces net profits for H1 2016 total €27.8 million, a Y-o-Y incresae of 14%, while net sales are up by "roughly" 3% Y-o-Y to reach €3771m. EBT is up by 12% to €40.3m.

"We are very pleased with our performance in the first six month of 2016," ALSO CEO Gustavo Möller-Hergt says. "We have again been able to increase profit significantly stronger than net sales, although we decisively invested in our business. We have developed our business in Poland and the Benelux and we will keep on expanding our activities."

The distributor points out somewhat softer sales in C. Europe (2% Y-o-Y growth), even if EBT margin is stronger compared to 2015 (1.5%), the result of profit stabilisation efforts in Switzerland and France as well as "above average" German results. Meanwhile the N./E. Europe segment sees sales grow by 11%, even if profits are down due to initial investments in Poland, Benelux and Finland.

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Shanghai Stock Exchange Delays Ingram Buyout

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Shanghai Stock Exchange Delays Ingram Buyout

Tianjin Tianhai delays its acquisition of Ingram Micro after a demand for "details" by the Shanghai Stock Exchange (SSE), the Wall Street Journal reports.

As a result,  the Chinese logistics giant was forced to postpone the shareholder meeting meant to rubber-stamp the €5.4 billion deal. The acquisition already got approval from 99.8% of Ingram investors earlier last month, and even the US Federal Trade Commission and the Department of Justice gave their go ahead.

However the SSE requires assurances on funding, and is examining whether the transaction bank loan size, duration, interest rates and outlay will "have a negative impact" on the companies involved. Also required are details on exit plans for a Chinese co-investors, potential financial risks and whether Tianjin Tianhai expects any further regulatory obstacles.

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