“This transaction will accelerate the momentum that was already underway by uniting two outstanding companies for greater scale and financial strength to lead the industry. “When we acquired Tech Data, we saw the tremendous potential for transformative growth and long-term value creation,” said Apollo Senior Partner and Co-Head of Private Equity Matt Nord and Apollo Partner Robert Kalsow-Ramos. MaSYNNEX Corporation (NYSE: SNX) and Tech Data have signed a merger agreement under which SYNNEX and Tech Data will combine in a transaction valued at approximately 7.2 billion. Tech Data currently is wholly owned by funds managed by affiliates of Apollo Global Management, Inc. We could not have reached this milestone without the hard work of our colleagues, and we look forward to working together with the SYNNEX team to seamlessly bring our companies together and to create meaningful value for all our stakeholders.” The combined company will also benefit from significant financial strength to invest in its core growth platform as well as next generation cybersecurity, cloud, data, and IoT technologies, which are experiencing explosive growth due to work from home and return to office trends.
“Together, we will be able to offer our customers and vendors exceptional reach, efficiency, and expertise, redefining the experience and value they receive. “This is transformational for Tech Data, SYNNEX and the entire technology ecosystem,” said Rich Hume, Tech Data CEO.
SYNNEX AND TECH DATA MERGE PRO
The combined company, with approximately $57 billion in estimated pro forma annual revenues and a team of over 22,000 associates and colleagues will provide customers and vendors with expansive reach across products, services, and geographies to accelerate technology adoption.
0 kommentar(er)
