The Competition Commission of India (CCI) approves proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc. by Imola Acquisition Corporation.

The proposed combination concerns the proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc. together with its parent companies (i) GCL Investment Management Inc. and GCL Investment Holding Inc. and (ii) its direct and indirect subsidiaries (collectively referred to as Ingram Micro).

Imola is a newly incorporated entity belonging to Platinum Equity Group. Platinum Equity Group specialises in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of businesses, including information technology, telecommunications, logistics, metal services, manufacturing and distribution.

Ingram Micro is a US Headquartered IT company that specialises in technology distribution and logistics, cloud solutions, and e-commerce supply chain services.

A detailed order of the CCI will follow.

Acquisition approval: Imola to acquire sole control of Ingram Micro after regulatory clearance in notified combination. The Competition Commission has granted approval for the proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc. by Imola Acquisition Corporation, transferring full ownership and control of Ingram Micro and its subsidiaries as a notified combination subject to regulatory clearance.