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Tech Data acquired by investment fund, goes private

Jasper Hart
November 15, 2019

Purchases leads to “additional resources,” says CEO Hume

Tech Data has been bought by investment fund Apollo Global Management for $5.4 billion.  US CEO Rich Hume will continue as chief executive officer, and the company will continue to be headquartered in Clearwater, Florida.

Tech Data will become a privately held company, and Tech Data’s  shares will no longer be publicly listed.

Said Hume: “Over our 45-year history, Tech Data has grown to become one of the largest and most respected technology distributors in the world. This agreement reflects the significant progress we have made in our strategy of delivering higher value and positions us for continued growth and success.

“This investment by funds managed by one of the world’s leading global alternative investment managers will afford us additional resources to accelerate our ability to bring to market the technology products and solutions the world needs to connect, grow and advance. The transaction will enable us to build on our success, making Tech Data a growth platform and enabling us to further differentiate and expand our end-to-end solutions and provide our channel partners with unparalleled reach, efficiency and experience.”

The distributor is due to have an earnings report released on November 26, however it will not host an earnings call in light of the pending acquisition.

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