Ingram Micro Inc. has entered into an agreement to acquire certain assets from Parallels Holdings Ltd. (Parallels), a provider of commercial cloud management platform technologies, connectors, billing systems, and professional services. Under the terms of the agreement, Ingram Micro will acquire the Parallels Odin Service Automation platform as well as associated cloud management technologies, intellectual property, and the Odin brand.
In addition, approximately 500 Odin employees are expected to join Ingram Micro. As a part of the Ingram Micro Cloud division led by executive vice president Nimesh Dave, these employees will continue to drive further development of the Odin automation platform and Ingram’s cloud service offerings as members of the Ingram Micro Cloud division.
“Odin Service Automation leads in cloud provisioning management and is an established industry standard for integrated cloud services. Our announcement today demonstrates Ingram Micro’s confidence in the technology and talent that Odin has cultivated, as well as our belief that the Odin Service Automation platform will play a significant role in how businesses consume technology in the cloud. We intend to continue to enhance the capabilities of the Odin Service Automation platform, while also consistently bringing additional functionality to our combined cloud solutions,” says Alain Monié, Ingram Micro CEO.
“Odin is excited to join forces with Ingram Micro, whose early vision to dedicate significant assets and make the investments required to develop a comprehensive cloud services ecosystem demonstrates unique foresight and has resulted in robust capabilities and a clear leadership position. With this transaction, businesses utilizing Odin Service Automation now have access to an expanded portfolio of cloud solutions and services, providing them the opportunity to easily increase their reach and build new revenue streams, while significantly accelerating time to market. Additionally, Odin Service Automation customers benefit from the buying power, commercial relationships, strength, and engineering capabilities of a global company. I am confident this event will be viewed as a pivotal strategic milestone in the evolution of the cloud ecosystem,” says Birger Steen CEO, Parallels.
Odin Service Automation will operate as a business unit of Ingram Micro. The transaction, which is subject to certain closing conditions, is expected to close in December 2015. Parallels will maintain ownership of its two other major service provider business units Plesk and Virtuozzo, which will be structured as separate companies. Both product lines will be available for Ingram Micro to resell to its customers.