And vice-versa.įor a quick look at some of the changes to expect, and what not to expect, click through the slideshow. While Urban declined to explicitly say that Synnex is better at some program or process, he did hint that when combining the best of the two companies there are a couple places where Tech Data’s staff, none of whom are slated to be laid off, will benefit from what Synnex has built. Urban, a former Tech Data executive who joined Synnex over two years ago, this week talked with CRN about the historic merger between Synnex and Tech Data, which will create the world’s largest IT distributor with an annual revenue of $57 billion and 22,000 employees, and said there will still be plenty of competition not only from the soon-to-be-second-largest distributor Ingram Micro, but from a host of smaller distributors worldwide. Once the merger closes, the combined company will be 55 percent owned by Synnex shareholders and 45 percent owned by Apollo Global management, which bought Tech Data for 5.4 billion in June 2020. Apollo now owns approximately 45% of TD Synnex.Staying Calm About Distribution’s Biggest Merger Ĭoncerns about changes in the competitive environment and about impacts to specific market segments are likely overblown, according to Michael Urban, president of worldwide technology solutions distribution at Synnex. Under the terms of the merger agreement, Apollo Funds received an aggregate 44 million shares of common stock, net $1.1 billion in cash after giving effect to a $500 million equity contribution by Apollo and the refinancing of Tech Data net debt. “As a versatile distributor and solutions aggregator for the IT ecosystem, we’re strengthening our entire portfolio of solutions and raising the bar on the value we deliver to customers and vendors with exceptional reach, efficiency and expertise,” Hume said in the company’s Wednesday announcement. (Reuters) - IT solutions firm Synnex Corp said on Monday it will merge with peer Tech Data in a deal worth about 7.2 billion, including debt, creating one of the world’s biggest IT. and CLEARWATER, Fla., Ma/PRNewswire/ - SYNNEX Corporation (NYSE: SNX) and Tech Data today announced they have entered into a definitive. (NYSE: SNX) was first announced in March and was originally valued at $7.2 billion. The combined revenue of Synnex/Tech Data is nearly $11 billion larger than Irvine, Calif.-based Ingram Micro, which had $49.1 billion in sales in fiscal year 2020.ĭennis Polk, CEO of Synnex, will move to Executive Chair of the TD Synnex Board of Directors.The acquisition by California-based Synnex Corp. Synnex, with $24.68 billion in gross revenue in 2020, competes for many of the same customers as Tech Data. The combined Synnex -Tech Data become the No.1 distributor in the world and Ingram Micro for the first time in at least three decades - will be surpassed to no.2 distributor in the world. The combination of the two distributors has created a $60 billion behemoth with more than 150,000 customers and 22,000 employees. The combined company will now be known as TD Synnex and led by Tech Data CEO Rich Hume. Pete area, has completed its $8.3 billion merger with Synnex Corp. Dannewitz will stay with Tech Data through the end of January 2022 to help the company complete its proposed now 8 billion merger with Synnex Corp., according to the company announcement. Tech Data, headquartered in the Tampa-St. Tech Data completes $8B merger with Synnex
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