Tech Data Corporation was an American multinational

distribution Distribution may refer to: Mathematics *Distribution (mathematics), generalized functions used to formulate solutions of partial differential equations *Probability distribution, the probability of a particular value or value range of a varia ...

company specializing in IT products and services headquartered in Clearwater,

Florida Florida ( ; ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders the Gulf of Mexico to the west, Alabama to the northwest, Georgia (U.S. state), Georgia to the north, the Atlantic ...

. It merged with competitor

Synnex Synnex was an American multinational corporation that provided information technology (IT) services to businesses. It merged with competitor Tech Data to form TD Synnex. It was founded in 1980 by Robert T. Huang and based in Fremont, Calif ...

to form

TD Synnex TD Synnex Corporation is an American IT distribution company with a workforce of 22,000 in over 100 countries. It was formed in 2021 by the merger of Synnex and Tech Data. TD Synnex is led by CEO Patrick Zammit. Ownership At closing former Sy ...

. Synnex is to be the primary owner (55% share). Tech Data provided a broad range of product lines, logistics capabilities and value-added services that enable technology manufacturers and resellers, such as

Google Google LLC (, ) is an American multinational corporation and technology company focusing on online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, consumer electronics, and artificial ...

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, LG,

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, Viewsonic,

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and VMware, to deploy IT solutions. Tech Data is now one of the world's largest distributors of IT products and services, generating $37.7 billion in net sales for the fiscal year ended January 31, 2017. The company ranked No. 83 on the 2018 Fortune 500 and one of Fortune's "World's Most Admired Companies."

History

Founded in Clearwater, FL by Edward C. Raymund in November 1974, Tech Data Corporation marketed data processing supplies for mini and mainframe computers. In 1983, Tech Data began to transition from a reseller to full-line national distributor of personal computer products, a transition led by Steven A. Raymund, Edward's son. Steve A. Raymund succeeded Edward C. Raymund as Chief Executive Officer in 1986, the same year Tech Data announced its initial public stock offering on

NASDAQ The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

(ticker symbol: TECD). Over the past 20 years, Tech Data expanded its business into Canada, Mexico and Europe by acquiring 18 companies. Some companies acquired included Canada-based ParityPlus, Paris-based Softmart International, Munich-based Computer 2000 AG, Globelle Canada, UK-based Azlan Group PLC, Actebis AG Switzerland, Nordics-based IT distributor Scribona, Netherlands-based Triade Holding B.V., Specialist Distribution Group (SDG), and Signature Technology Group (STG). In 2013, Tech Data lost out on nearly 27 million euros in profit following an accounting error by their former financial comptroller. In the second quarter of 2015, Tech Data posted record earnings, increasing net income by 22.4% and sales by 8%. Tech Data's data-center business is attributed with the record earnings. In September 2016, Tech Data announced that it had entered into an agreement to acquire the Technology Solutions operating group from Avnet, Inc. in a stock and cash transaction valued at approximately US$2.6 billion. Under the terms of the agreement, Avnet received at closing approximately US$2.4 billion in cash and 2.785 million shares of Tech Data common stock, representing an approximate 7 percent ownership position in Tech Data. The acquisition was closed in February 2017. ExitCertified is a wholly owned subsidiary of Tech Data Corporation with head offices in Canada (Ottawa) and the USA (Sacramento). In November 2019, Tech Data announced that

Apollo Global Management Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. , the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capita ...

would acquire the company for approximately $6 billion. The deal was closed on June 30, 2020. On March 22, 2021, it was announced that

would acquire 55% of Tech Data for a sum of $7.2 billion including debt.

Merger with Synnex

On September 1, 2021, Tech Data completed a merger with

. This merger created a new company with $59.8 billion in revenue,

. Through the combination of both companies, TD Synnex becomes the largest IT distributor, surpassing

Ingram Micro Ingram Micro Holding Corporation is an American distributor of information technology products and services. The company is based in Irvine, California, U.S. and has operations around the world. Founded as Micro D, Inc in 1979 in California by ...

. As of Sep 1, 2024 Patrick Zammit is the new CEO in place of Rich Hume.

References

External links

Tech Data WebsiteExitCertified Website
{{Authority control Multinational companies headquartered in the United States Software companies based in Florida Defunct computer companies of the United States Distribution companies of the United States Companies based in Clearwater, Florida American companies established in 1974 Software companies established in 1974 Computer companies established in 1974 Business services companies established in 1974 1974 establishments in Florida Companies formerly listed on the Nasdaq 1980s initial public offerings 2020 mergers and acquisitions 2021 mergers and acquisitions Defunct software companies of the United States Apollo Global Management companies Information technology consulting firms of the United States International information technology consulting firms

History

Merger with Synnex

See also

References

External links