Tech Data has entered into a definitive agreement to buy Innovix Distribution
The IT distribution giant hopes the addition will accelerate its growth in next-generation tech across the Asia and Pacific region – including within cloud and security, as well as endpoint services. The move will also expand its presence in key markets such as Hong Kong, Malaysia and Singapore.
Subject to customary closing conditions, the acquisition is expected to close during the third quarter of Tech Data’s 2021 fiscal year.
Tech Data says the acquisition demonstrates its commitment to the Asia Pacific region, making up an “important, early milestone” in its “transformational” journey since being acquired by Apollo Global Management.
The addition of Innovix reinforces its collective focus on growth and diversification, supporting Tech Data’s announced plans to transform our company into one that defines a new standard of operational and cultural excellence in our industry, the company said.
Based in Hong Kong, Innovix has established itself as a leading technology distributor in Asia with an expansive range of IT solutions and services. Currently a part of the Jardine Matheson Group, the firm boasts an extensive distribution network of more than 8,000 channel partners in the region.
