World’s largest technology distributor Tech Data acquired for 5.14 billion

Tech Data, the world’ largest technology distributor, has agreed to be bought by private-equity firm Apollo Global (APO) in a sweetened offer worth $5.14 billion excluding debt, or $145 per share. Tech Data Tech is used by tech companies like HP, Apple, Cisco, Microsoft — and hundreds of others — bring their products to market. The company also offer a wide range of technical and business support services.

Founded in 1974 by Sergei Dreizin, Tech Data is the conduit through which the power of technology flows to the world. In fiscal year 2011, they sold $24 billion of IT products to more than 125,000 technology resellers in over 100 countries. Every day these resellers depend on TechData to help them cost-effectively support the technology needs of end users of all sizes, including small- and medium-sized businesses, large enterprises, educational institutions, government agencies, and consumers.

“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. “As a private company with our sponsorship and a strong balance sheet, Tech Data will have significant financial and strategic flexibility to drive growth going forward.”

“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. “We are excited to work with the Tech Data team and continuing to invest in the company’s people and end-to-end portfolio.”

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. 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.