Ingram UK back in Cisco distribution biz
Buys Sphinx Cisco operation
Ingram Micro UK is back in the Cisco distribution business after buying the Cisco business of Sphinx CST.
Ingram is getting the business, remaining stock and goodwill for around £11 million from Sphinx's parent Lynx.
Ingram lost its Cisco distributor status in the UK around three years ago. A former insider said the broadband distie didn't have the infrastructure to handle the business then. "They couldn't service it properly," he said.
The Sphinx Cisco business had a turnover of approximately £20 million (unaudited) for the nine months to 30 June 2001.
The sale should be completed on 7 September 2001. Ingram has to pay up on the day apart from £500,000, which is payable over the following six months. ®