With Tech Data’s acquisition by funds managed by affiliates of Apollo Global Management now complete, the outfit announced it will invest approximately $750 million in digital transformation initiatives over the next five years.
The company said cash will “power Tech Data’s strategy to accelerate innovation in ways that will deliver improved experiences and greater agility for businesses across the technology ecosystem”.
Tech Data chief executive officer Rich Hume said: “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.”
