![]() ![]() We grow through these consolidations, and we’re seeing our distributors doing the same.” And two weeks ago we acquired Light Networks, which is also a Tech Data partner. “The fact that these two are coming together is music to our ears. “Last year, we acquired SereneIT, which had a long-standing Synnex relationship,” he said. TD Synnex will have other benefits as well for Anexinet, Kolimago said. Now there’s less fear than in the past because we know what to expect, including the increased investment needed to make the deal work.” ![]() They bent over backwards to help us through the change. “That acquisition expanded our solutions, support for our customers, financing support, and interactions with the field teams. “We were originally concerned, but it turned out to be a beautiful thing,” he said. Kolimago’s optimism over the merger stems from his experience when he was an Avnet Technology Solutions partner at the time Tech Data acquired the Avnet Technology Solutions business unit in early 2017, he told CRN. It is an exciting time to be a Tech Data or Synnex channel partner, said John Kolimago, executive vice president and general manager of Anexinet, a Bluebell, Pa.-based solution provider and MSP and a longtime Tech Data partner. TD Synnex will be led by former Tech Data CEO Hume, while Synnex President and CEO Dennis Polk will serve as the executive chair of the board of directors. 3 at $22.2 billion, according to the companies. 2 spot with $37.6 billion in revenue, while Synnex was No. Prior to the acquisition, Tech Data held the No. That compares with Ingram Micro, which in April reported fiscal 2020 revenue of $49.1 billion for the year ended Jan. The closing of the acquisition makes TD Synnex the world’s largest IT distributor by revenue with $59.8 billion in sales, the companies said in July. The blockbuster deal sets the stage for an epic battle between TD SYNNEX and Ingram Micro, the latter of which was acquired by private equity powerhouse Platinum Equity in July. It’s an honor to lead TD Synnex with a talented team of 22,000 co-workers worldwide.” “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. “TD Synnex is uniquely positioned in today’s relentlessly transforming technology ecosystem,” said Rich Hume (pictured), TD Synnex CEO, in a prepared statement. Apollo in June 2020 acquired Tech Data for $5.4 billion. Synnex shareholders own 55 percent of the combined company-which will boast more than 150,000 customers, 1,500 vendors on its line card and 22,000 employees-while private equity company Apollo Global Management owns 45 percent. The $7.2 billion merger of publicly traded Synnex, Fremont, Calif., and private-equity-owned Tech Data, Clearwater, Fla., which was first unveiled on March 22, marks a new era in the bitterly contested distribution battle for the hearts, minds and pocketbooks of solution providers. ![]() 2 position for the first time in over three decades. Net optimization and synergy benefits of $100 million are expected in the first year achieving a minimum of $200 million by the end of the second year.The historic merger between Synnex and Tech Data is complete, the companies said Wednesday, creating an entity called TD Synnex with a combined $59.8 billion in revenue that takes over the top spot as the industry’s largest IT distributor, pushing rival Ingram Micro to the No. Synnex expects EPS accretion of over 25% in year one, with further accretion expected in year two. In these roles, Rowan and Clayton succeeded Apollo Founder Leon Black. Former SEC Chairman and Apollo's lead independent director Jay Clayton became the Non-Executive Chairman of the board. Why It Matters: Apollo co-founder Marc Rowan became the CEO of Apollo as part of a planned succession process first announced in January 2021. Dennis Polk would be the Executive Chair of the board. Rich Hume would lead the combined company as CEO. Synnex shareholders would own 55% of the combined company, while Apollo Funds will own the remaining 45% under the deal. The combined company would also benefit from significant financial strength to invest in its core growth platform, next-generation cybersecurity, cloud, data, and IoT technologies, which experienced explosive growth due to work from home and return to office trends per Tech Data CEO Rich Hume.Īpollo Funds would receive 44 million shares of Synnex, refinancing of existing Tech Data net debt, and redeemable preferred shares of $2.7 billion under the arrangement. ![]()
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