Rumors that Tianjin Tianhai plans to sell Ingram Micro to Synnex are false, according to the Chinese logistics giant. False rumors about the potential Synnex-Ingram business combination surfaced on Friday, when Ingram's parent halted trading to disclose various business plans.
Ingram was acquired by Tianjin Tianhai for $6 billion in cash and in 2016 became a subsidiary of HNA Group, a Chinese conglomerate focused on aviation, tourism and logistics.
Fast forward to present day, and Ingram has continued acquiring companies to bolster its cloud intellectual property and expertise in key sectors like security and point of sale (POS) solutions. Recent deals include Ingram acquiring Cloud Harmonics and The Phoenix Group.
Rival Synnex has also undergone a business transformation in recent years. Amid multiple M&A deals, the company has pushed deeper into enterprise and cloud solutions, while also diversifying into business process services. Most recently, Synnex confirmed a CEO transition from Kevin Murai to Dennis Polk.
Despite multiple market inflection points, the overall technology distribution industry expects to enjoy substantial growth in 2018, according to a recent report from Global Technology Distribution Council (GTDC).
But Synnex buying Ingram? It looks like Ingram's parent has put that erroneous rumor firmly to rest.