Ingram Micro is one of the world's largest IT distributors by revenue, sitting between major technology vendors and B2B resellers. The company buys technology products from roughly 1,500 vendor partners — including Apple (~21% of net sales), Lenovo (~10%), and HP Inc. (~9%) — and resells them to approximately 165,000 reseller customers, including VARs, MSPs, systems integrators, and retailers, who in turn sell to enterprises, SMBs, and governments. Ingram Micro operates in 57 countries, with roughly two-thirds of revenue generated internationally. The business model is high-volume and low-margin, with gross margins in the low-to-mid single digits and profitability driven primarily by operating leverage. Ingram Micro organizes its products into three categories: Client and Endpoint Solutions (PCs, tablets, smartphones), Advanced Solutions (servers, networking, AI infrastructure, cybersecurity), and Cloud-based Solutions (third-party SaaS and IaaS via its cloud marketplace). Cloud is the smallest revenue contributor but the most profitable on a gross margin basis. A key strategic initiative is Xvantage, a proprietary B2B commerce and AI platform that combines hardware, software, and cloud purchasing in a single interface and incorporates AI models to drive reseller sales and automate order processing. Ingram Micro also operates a channel financing business, offering trade credit to resellers. Platinum Equity took the company private in 2016 and conducted an IPO in October 2024 while retaining a controlling stake.