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With the PC market, one of the key business areas for technology distributors, losing its luster to smartphones and tablets, companies like Ingram Micro and Arrow Electronics Inc (ARW.N) have been looking to expand in new growth areas. Arrow said in April it would buy Altimate, a distributor of computing products and services to expand in Europe - its third acquisition this year. Indianapolis, Indiana-based BrightPoint distributes products sold by companies like Apple (AAPL.O), LG Electronics (066570.KS) and Nokia (NOK1V.HE) to mobile network operators and wireless equipment manufacturers. The company, which has operations in more than 35 countries, generated revenue of more than $5.2 billion in 2011. The $9 per share cash offer represents a premium of more than 66 percent to BrightPoint's closing price on Friday of $5.41 on the Nasdaq. The deal, valued at about $840 million including about $190 million of BrightPoint's estimated debt, will add to Ingram Micro's per share earnings beginning in 2013, the company said in a statement. "Expanding our presence in the mobility market has been a focus of Ingram Micro and the acquisition of BrightPoint accomplishes this to an extent that would have been challenging to achieve on our own," Ingram Micro chief executive officer Alain Monie said in a statement. The company said it expects more than $55 million in annual cost synergies and efficiencies by 2014 from the acquisition. Santa Ana, California-based Ingram Micro shares closed at $17.47 on Friday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Mark Potter) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. 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