Ingram Micro has submitted an initial public offering (IPO) statement to the US Securities and Exchange Commission.
In a press release, Ingram Micro announced that the number and prices of shares have not yet been established. Subject to market conditions and other circumstances, the initial public offering is planned to take place when the SEC completes its review process.
Ingram Micro, situated in California, recently unveiled its Xvantage platform, which assists partners in streamlining invoicing and order tracking.
Going public is key to the organization’s strategy. In July 2021, Ingram Micro was acquired for $7.2 billion by private equity heavyweight Platinum Equity, freeing the organization from the financially burdened HNA Group.
The seven-month transaction provided Ingram Micro with financial resources to focus on new ways of conducting business, including expanding its cloud and digital transformation operations. Ingram Micro was once a public organization, but went private after being bought by HNA Group in late 2016.
A turning point for IT distributors
For years, Ingram Micro was the world’s largest IT distributor. However, its two main competitors — Tech Data and Synnex — merged in September 2021 to form TD Synnex, becoming the new global leader in IT distribution. Now, Ingram Micro must fight its way back to the top.
According to Dealogic, a financial markets platform, IPOs in the United States are on course for their worst year in almost two decades. Based on the data, firms have raised over $18 billion this year, compared to roughly $231 billion in the same period last year.