Business Wire

Tech Data Plans to Invest Approximately $750 Million to Accelerate Digital Transformation

Share

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 deliverimproved 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.

Forward-Looking Statements

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.

Contact information

Bobby Eagle
Director, External Communications, Tech Data
+1 (727) 538.5864
bobby.eagle@techdata.com

About Business Wire

Business Wire
Business Wire



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

Xerox Launches ConnectKey-Enabled AltaLink Digital Workplace Assistant15.7.2020 18:47:00 CESTPress release

Xerox announced its new https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.office.xerox.com%2Fen-us%2Fmultifunction-printers%2Faltalink-c8100-series&esheet=52250531&newsitemid=20200715005746&lan=en-US&anchor=Xerox+AltaLink%26%23174%3B+C8100&index=1&md5=59e47e2191588f21b4da900931086697 Xerox AltaLink® C8100 and Xerox AltaLink B8100 Series multi-function printers (MFPs), that can better support today’s flexible work environment and help companies speed their digital transformation with access to the ConnectKey® ecosystem of apps. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005746/en/ The tablet-like user interface allows for easy, familiar interaction or the user can choose to print from their mobile devices. (Photo: Business Wire) In addition to its printing capabilities, the AltaLink 8100 series helps speed workplace digitization with ultra-fast scanning of up to 270 images per minute and Optical

Bureau Veritas Launches a New Solution to Improve Supply Chain Resilience15.7.2020 17:45:00 CESTPress release

Bureau Veritas, a world leader in testing, inspection and certification (TIC) services, is launching Supply-R, a solution designed to meet companies’ new challenges relating to supplier network reliability and ensuring business continuity in all circumstances. Organizations learned multiple lessons during the first half of 2020 on the resilience of global supply chains and their ability to face disruptions. There is an urgent need from many companies to reassess their supply chain risk, based on factual data from the field, to make sure that all elements are properly addressed, assessed and visible. Bruno Ferreyra, Executive Vice-President at Bureau Veritas, commented: "Economic globalization means supply chains include more suppliers and intermediaries than before, and they are scattered around the globe. This makes each step, process and stakeholder in the manufacturing chain harder to track. Our goal is to support businesses, mapping out their supply chains to give them complete con

VALBIOTIS Announces the First Patient First Visit in the International Phase II/III REVERSE-IT Clinical Study on TOTUM-63 to Reduce Type 2 Diabetes Risk Factors15.7.2020 17:40:00 CESTPress release

Regulatory News: VALBIOTIS (Paris:ALVAL) (FR0013254851 - ALVAL, PEA/SME eligible) a Research & Development company committed to scientific innovation for preventing and combating metabolic diseases, announces the First Patient First Visit in the international Phase II/III REVERSE-IT clinical study designed to assess TOTUM-63 for the reduction of Type 2 Diabetes metabolic risk factors. Murielle CAZAUBIEL, member of the Management Board and Director of Development and Medical Affairs at VALBIOTIS, comments: "The first visit of this first subject, a few days after obtaining both ANSM1 approval and the favorable decision from the CPP2, marks the concrete launch of the REVERSE-IT study, the results of which are expected in mid-2022. We are right on schedule and are delighted to be able to enter the operational phase of this major study so quickly. We also welcome the enthusiasm and commitment of all the partner investigation centers." Dr Hans-Juergen WOERLE, Chief Scientific and Medical Off

Octapharma Reports Positive Data from octagam ® Usage in Critically Ill COVID-19 Patients15.7.2020 17:04:00 CESTPress release

Topline results from a retrospective study in 93 critically ill COVID-19 patients have become available. The data shows that IVIG treatment reduces inflammation, which is associated with poor clinical outcomes and death, and points to an increase in survival, in critically ill COVID-19 patients, when compared to a control group. The study was conducted at the Istanbul University Hospital, Turkey, under the lead of Prof. Dr. Figen Esen. In critically ill COVID-19 patients, the cause of death often implicates an abnormal pulmonary immune response. This abnormal immune response is characterized by high levels of inflammatory markers, which are associated with poor clinical outcomes.1, 2 Acute respiratory distress syndrome (ARDS) and multiorgan failure are major causes of mortality in COVID-19 patients.3 High levels of pro-inflammatory cytokines and chemokines are part of a severe inflammatory response known as a “cytokine storm” which may cause multiple organ dysfunction and ARDS in criti

European Commission approves third nintedanib indication in pulmonary fibrosis 115.7.2020 15:34:00 CESTPress release

Boehringer Ingelheim today announced that the European Commission (EC) has approved an additional indication for nintedanib in adults for the treatment of other chronic fibrosing interstitial lung diseases (ILDs) with a progressive phenotype beyond idiopathic pulmonary fibrosis (IPF).1 The approval comes after the Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion in May 2020.3 The U.S. Food and Drug Administration (FDA), Health Canada and the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) recently approved nintedanib as the first treatment for the same patient population.4,5,6 Interstitial lung diseases encompass a large group of more than 200 disorders that may involve the threat of pulmonary fibrosis – an irreversible scarring of lung tissue that negatively impacts lung function.7 People living with fibrosing ILD can develop a progressive phenotype, leading to lung function decline, deterioration in quality of life and early mortality simila

With U.S. Cotton Trust Protocol, Brands and Retailers Can Now Source U.S. Cotton with More Confidence15.7.2020 15:05:00 CESTPress release

Startingtoday, brands and retailers can join the U.S. Cotton Trust Protocol, a new system for responsibly grown cotton that will provide annual data for six areas of sustainability in line with the U.N. Sustainability Goals. This year-over-year data, available for the first time, will allow brands and retailers to better measure progress towards meeting sustainability commitments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005278/en/ (Graphic: Business Wire) “One of our goals in developing the Trust Protocol is to give brands and retailers greater confidence when including U.S. cotton in their sourcing mix,” said Ken Burton, Executive Director of the U.S. Cotton Trust Protocol. “Participating brands and retailers will now be able to demonstrate measurable progress in reducing their environmental footprint and in achieving sustainability targets.” The Trust Protocol underpins and verifies sustainability progress thr

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