Ingram UK back in Cisco distribution biz
Buys Sphinx Cisco operation
Posted in Channel, 21st August 2001 14:05 GMT
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. ®
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