CMA CGM Group-backed CEVA Logistics completed the acquisition of a majority stake of commerce & lifecycle services activities from Ingram Micro and Platinum Equity at a $3bn valuation.

CMA CGM Group-backed CEVA Logistics, a third-party logistics company, completed the acquisition of a majority stake of commerce & lifecycle services activities from Ingram Micro, a distributor of information technology products and services, and Platinum Equity, a private equity investment firm, at a $3bn valuation. “The acquisition of Ingram Micro CLS is strategic for the CMA CGM Group. After completing its turnaround this year, our subsidiary CEVA Logistics will accelerate its development and join the world's Top 4 in contract logistics. Its position will be significantly strengthened in the US and European markets, enhancing its ability to seize the opportunities offered by the boom of eCommerce. Committed to providing leading end-to-end supply chain solutions, the CMA CGM Group will continue its development, relying on two solid pillars, shipping and logistics, with a world leadership position in both sectors," Rodolphe Saade, CMA CGM Group Chairman and CEO.