Synnex and Tech Data have completed a blockbuster $7.2 billion merger which will see the joint company become the industry’s largest distributor.
The name Tech Data will be history and the new company will be TD SYNNEX, and led by Tech Data’s Rich Hume as CEO. It will have combined revenues of almost $60 billion, putting itself in front of rival Ingram Micro.
The merger sees Synnex shareholders own 55 percent of the combined company and private equity firm Apollo Global Management own 45 percent.
“TD SYNNEX is uniquely positioned in today’s relentlessly transforming technology ecosystem”, Hume said.
“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.