Tech Data enters agreement to be acquired
| 15 November, 2019
Tech Data has entered into a definitive agreement to be acquired by an affiliate of funds managed by affiliates of Apollo Global Management, Inc. Through the agreement, the affiliate of the Apollo Funds will acquire all of the outstanding shares of Tech Data common stock in a transaction with an enterprise value of approximately $5.4 billion.
“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,” said Rich Hume, chief executive officer, Tech Data.