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Tech Data, a broadliner serving the IT industry, has officially confirmed the acquisition of Apollo Global Management by a financial investor. The total amount of the transaction is about 6 billion dollars.
As a result of the acquisition of the company, Tech Data will withdraw from the stock exchange, which in the long run will provide more freedom in shaping the new strategy. The current CEO Rich Hume will remain in his position.
At the same time, after the acquisition is completed, Tech Data plans to devote approximately $750 million to initiatives supporting the digital transition within 5 years. The company will participate in the development of the StreamOne cloud platform, process optimisation and standardisation and data processing and analysis to improve the efficiency and flexibility of operations in a rapidly changing environment.
The cloud is still a priority.
The new investor has announced the continuation of the strategy adopted by Tech Data in previous years, focusing on developing fast-growing “next-generation” solutions such as cloud, security, analytics, Internet of Things, without ignoring the traditional business, which generates a large part of sales.
We continue to pursue our strategy to transform our company into one that sets a new standard of operational and cultural excellence in our industry. We believe that Apollo will be an invaluable partner to help us better enable our channel partners to bring to market the products and technology solutions the world needs to connect, grow and develop,” said Rich Hume, CEO Tech Data
Tech Data is one of the largest IT distributors operating on the Polish market with an estimated turnover exceeding PLN 1.5 billion.