Tech Data Plans to Invest Approximately $750 Million to Accelerate Digital Transformation
With its acquisition by funds managed by affiliates of Apollo Global Management now complete, Tech Data (or the “Company”) today announced the Company plans to invest approximately $750 million in digital transformation initiatives over the next five years. The investment will power Tech Data’s strategy to accelerate innovation in ways that will deliver improved experiences and greater agility for businesses across the technology ecosystem.
“Tech Data’s acquisition by the Apollo funds is a significant milestone, and their support of our multi-year commitment of resources underscores our collective focus on long-term value creation,” said Rich Hume, chief executive officer, Tech Data. “We continue to execute on our strategy to transform our company into one that defines a new standard of operational and cultural excellence in our industry. We believe Apollo will be an invaluable partner in helping us better enable our channel partners to bring to market the technology products and solutions the world needs to connect, grow and advance.”
Tech Data’s digital transformation initiatives are focused on delivering state-of-the-art automation, platforms and analytics that will allow the Company to be more agile and responsive to the rapidly evolving needs of its channel partners. The program includes building a hyper-scalable digital business platform and a cloud-based digital marketplace that are designed to support Tech Data’s ambitious growth plans and serve emerging technology markets and consumption models.
“Apollo sees Tech Data as a strong platform for meaningful growth and further diversification, and we are committed to supporting investments that build on this vision,” said Robert Kalsow-Ramos, Private Equity Partner at Apollo. “This investment over the next five years helps ensure the company has the resources necessary to launch a bold digital enablement and innovation program that will transform the way it serves channel partners and employees.”
About Tech Data
Tech Data connects the world with the power of technology. Our end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow and advance. Tech Data is ranked No. 90 on the Fortune 500® and has been named one of Fortune’s World’s Most Admired Companies for 11 straight years. To find out more, visit www.techdata.com or follow us on Twitter , LinkedIn , Facebook and Instagram .
This press release contains forward-looking statements within the meaning of applicable federal securities laws. The forward-looking statements include, without limitation, statements concerning the performance of Tech Data. Forward-looking statements involve risks and uncertainties, including but not limited to economic, competitive, and technological factors outside Apollo’s or Tech Data’s control that may cause actual results to differ materially from the forward-looking statements. You should not place undue reliance on forward-looking statements as a prediction of actual results. Apollo and Tech Data expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in expectations or events, conditions or circumstances on which any such statements are based.
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SHIONOGI1.10.2020 15:16:04 CEST | Press release
Shionogi Announces Publication of a New Systematic Review in CHEST Highlighting the Importance of Early, Appropriate Therapy to Improve Meaningful Outcomes Like Mortality in Patients With Severe Bacterial Infections
PTR-ROBOTS1.10.2020 15:04:04 CEST | Press release
PTR Robots Introduces World’s First Mobile Lifting Robot That Both Transfers and Rehabilitates Patients
CA-FASTLY,-INC.1.10.2020 15:02:13 CEST | Press release
Fastly Completes Acquisition of Signal Sciences
NV-RIMINI-STREET1.10.2020 15:02:13 CEST | Press release
Rimini Street Appoints Michael L. Perica as CFO
BACARDI-LIMITED1.10.2020 14:17:10 CEST | Press release
Bacardi Limited Welcomes Beverage Industry Veteran Todd Grice as General Counsel
MA-EXAGRID1.10.2020 14:02:07 CEST | Press release
ExaGrid Nominated in Seven Categories for the 2020 Storage Awards
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom