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Ingram Micro (IM) Expands Cloud Marketplace in Singapore

Zacks Equity Research
Updated

Users of Ingram Micro Inc.’s IM Cloud Marketplace can now avail Dropbox services in Singapore.

According to the vice president of Ingram Micro, Francis Choo, "Through the Cloud Marketplace's automated portal, channel partners can now quickly access and deploy an affordable and secure file sharing solution that enhances collaboration capabilities and drives new business opportunities in the cloud."

First launched in North America, the Cloud Marketplace was quite well received, which prompted the company to launch it globally. The availability of Dropbox through Ingram Micro Cloud Marketplace is aimed at making it easier for people and organizations to work with files on the go.

Dropbox is a file backup service that offers cloud-based file management, storage systems and client software. It enables users to access and synchronize files and use applications through multiple devices. Users can create a special folder on their computers, which can be synchronized for viewing on any computer. Files placed in this folder are also accessible through website and mobile phone applications.

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This move will help both Ingram Micro and Dropbox to leverage each other’s resources. Dropbox, in addition, will be able to attract even more business users. Moreover, the channel partners can have cross-selling prospects by attaching Dropbox Business to Microsoft MSFT Office 365 through Ingram Micro's productivity suite. The integration will make it easier for Office users to edit and share files across different devices and software.

Moreover, it will broaden Ingram Micro’s capabilities as a cloud solution provider, thereby helping it to capitalize on the increasing opportunities in the cloud computing market. The accessibility will also be a good source of monthly recurring revenues for Ingram Micro.

Ingram Micro has been striking distribution deals with a number of original equipment manufacturers thus expanding its product portfolio. Moreover, Ingram Micro's exposure in cloud computing products is expected to remain its key growth driver.

Though Ingram Micro’s high debt burden is a concern, we remain fairly optimistic about its strategic relationships with network giants such as Juniper Networks Inc. JNPR, Cisco CSCO and International Business Machines Corp.

Ingram Micro carries a Zacks Rank #5 (Strong Sell).

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