Smartphones back on the rise after strong third quarter
Chinese smartphone brands have enjoyed success in emerging markets according to analyst firms
Paul Lipscombe
November 19, 2019
Purchases leads to “additional resources,” says CEO Hume
Tech Data has been bought by investment fund Apollo Global Management for
Tech Data will become a privately held company, and Tech Data’s
Said Hume: “Over our 45-year history, Tech Data has grown to become one of the largest and most respected technology distributors in the world. This agreement reflects the significant progress we have made in our strategy of delivering higher value and positions us for continued growth and success.
“This investment by funds managed by one of the world’s leading global alternative investment managers will afford us additional resources to accelerate our ability to bring to market the technology products and solutions the world needs to connect, grow and advance. The transaction will enable us to build on our success, making Tech Data a growth platform and enabling us to further differentiate and expand our end-to-end solutions and provide our channel partners with unparalleled reach, efficiency and experience.”
The distributor is due to have an earnings report released on November 26, however it will not host an earnings call in light of the pending acquisition.