Citi is serving as lead financial advisor to Apollo in connection with the transaction. Tech Data Enters Definitive Agreement to Be Acquired by Funds Managed by Affiliates of Apollo Global Management for $130 Per Share in Cash. Through the combination of Tech Data and DLT Solutions, channel partners will have access to a broader portfolio of leading technologies, an extensive array of in-house public sector contract vehicles, and dedicated channel and enablement services. Risks and uncertainties related to the proposed merger include, but are not limited to, the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the failure of the parties to satisfy conditions to completion of the proposed merger, including the failure of Tech Data’s shareholders to approve the proposed merger or the failure of the parties to obtain required regulatory approvals; the risk that regulatory or other approvals are delayed or are subject to terms and conditions that are not anticipated; and the risks, uncertainties, and other factors detailed from time to time in Tech Data’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed or furnished with the Securities and Exchange Commission (the “SEC”). The acquisition of Tech Data Corp., one of Tampa Bay's largest public companies, is officially a done deal.
DLT Solutions is now a wholly owned subsidiary of Tech Data and complements the company’s existing public sector business with additional expertise and resources to accelerate … “Over our 45-year history, Tech Data has grown to become one of the largest and most respected technology distributors in the world. This communication includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “We are excited to welcome DLT Solutions to Tech Data and are confident that this acquisition will provide higher-value solution offerings to our partners, helping them to build their businesses while advancing our strategy and footprint in the U.S. public sector marketplace,” said Joe Quaglia, president, Americas, Tech Data. Tech Data plans to release its third quarter fiscal year 2020 results before market open on Nov. 26, 2019. Tech Data urges its shareholders to read the proxy statement when it becomes available because it will contain important information regarding the proposed merger. “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.
This agreement reflects the significant progress we have made in our strategy of delivering higher value and positions us for continued growth and success,” said Rich Hume, chief executive officer, Tech Data. Tech Data is ranked No. “We have tremendous respect for Tech Data’s talented management and colleagues around the globe and commend their success in establishing Tech Data as a leader at the center of the IT ecosystem,” said Robert Kalsow-Ramos of Apollo Private Equity. Tech Data announced that it has completed the acquisition of Avnet’s Technology Solutions business. New York City-based private equity firm Apollo Global Management Inc. has acquired … After submitting your request, you will receive an activation email to the requested email address. J.P. Morgan and Wells Fargo are also serving as financial advisors to Apollo. CLEARWATER, Fla.--(BUSINESS WIRE)-- Tech Data (Nasdaq: TECD) today announced it has completed its acquisition of DLT Solutions, a premier software and cloud solutions aggregator focused on the U.S. public sector.
Following the close of the transaction, Rich Hume will continue to lead Tech Data as chief executive officer, and the company will continue to be headquartered in Clearwater, Florida. We help companies like HP, Apple, Cisco, Microsoft — and hundreds of others — bring their products to market, and we offer a wide range of technical and business support services. You can obtain free copies of these documents from Tech Data using the contact information above. Information regarding the interests of these directors and executive officers in the proposed merger will be included in the proxy statement when it is filed with the SEC. “Through this investment, we are committed to expanding Tech Data’s position as a trusted partner to the world's leading technology vendors while providing best-in-class customer service,” said Matt Nord, Co-lead Partner of Apollo Private Equity. You may find additional information about Tech Data’s directors and executive officers in Tech Data’s proxy statement for its 2019 Annual Meeting of Shareholders, which was filed with the SEC on April 25, 2019. Charles E. ("Eddie") Adair, lead independent director of the Tech Data Board of Directors said, “This agreement follows a process of consideration of Apollo’s proposal by the Board that included review and discussion of strategic alternatives with the Board’s financial and legal advisors. Apollo had assets under management of approximately $323 billion as of September 30, 2019 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. To find out more, visit “With this transaction now complete, Tech Data will be able to provide an even greater level of sales enablement and proactive opportunity development for our channel partners.”
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