Ingram Micro Acquires The Phoenix Group for Point of Sale Technology
Ingram Micro Inc. has acquired The Phoenix Group, a U.S.-based specialty distributor of point-of-sale (POS) technology for the U.S. and Canadian electronic payments market, the companies confirmed today. Financial terms were not disclosed.
The deal sets the stage for Ingram to compete more aggressively against ScanSource, a specialty distributor that has deep reach into the retail vertical and extensive POS expertise.
According to Ingram, the deal:
“…allows Ingram Micro to extend its capabilities and market share—as well as its channel partners— in the fast-growing, high-value electronic payments space by bringing together The Phoenix Group’s electronic payments expertise, extensive payment key library and value-added POS deployment services with Ingram Micro’s existing POS and payment technology capabilities, as well as its professional services and partner enablement resources.”
Moreover, The Phoenix Group has earned all major network, PCI and P2PE certifications, the companies say.
The Phoenix Group will operate as an extension of Ingram Micro’s Advanced Solutions division, under the direction of Jeff Yelton, VP & GM, Advanced Solutions.
Retail Technology Market: Major Inflection Points
Like many vertical markets, the retail sector is undergoing massive disruption. In addition to heightened competition from Amazon Web Services, retailers and their channel partners must navigate cloud and mobile challenges. Moreover, the shift to EMV payment terminals has tripped up numerous retailers and channel partners over the past two years or so.