Tech Data Synnex Merger New Name
Currently, tech data is merging with synnex in a technology distribution deal worth $7.2 billion. Pete area, has completed its $8.3 billion merger with synnex corp.
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Synnex and tech data will create the world’s largest it distributor through their $7.2 billion merger, coming in nearly $10 billion larger than.
Tech data synnex merger new name. While the announcement says “merger,” synnex is essentially buying tech data for $7.2 billion. Sep 1, 2021 8:21am edt. The new company will be led by rich.
The combined company is now td synnex, led by rich hume as ceo. In addition to td synnex, rich serves on the boards of directors of the allstate corporation and ceos against cancer, florida chapter. Synnex is publicly traded and its shareholders would own 55% of the new entity while apollo funds, tech data's private owners, would receive 45%.
Once the merger closes, the combined company will be 55 percent owned by synnex shareholders and 45 percent. The finalisation of the synnex/tech data merger dominated the ict market last month. Snx ), a leading provider of distribution, systems design.
The combined company will now be known as. Shares of synnex closed on monday with a 6.45% bump. Synnex corporation stockholders approve merger with tech data.
Snx) and tech data corporation today announced the successful completion of their merger. Apollo global management, the private equity firm that bought tech data in june 2020, will receive $2.7 billion in cash and stock in synnex , and will retain 45% ownership of. Tech data has continued to show its determination to become one of the largest names in global distribution, through the move to merge with synnex.
Currently, ingram micro, which is being acquired by platinum equity, is the largest. The combined company will go by the name of td synnex and will be led by tech data ceo rich hume, with former synnex boss dennis polk becoming executive chairman of the board of directors. Snx), a leading provider of distribution, systems design and integration services for the technology industry, today.
Snx) and tech data today announced they have entered into a definitive merger agreement under which synnex and tech data will combine in a transaction valued at approximately $7.2 billion, including net debt. The historic merger between synnex and tech data is complete creating an entity called td synnex with a combined us$59.8 billion in revenue, but in the. Snx), a leading provider of distribution, systems design and integration services for the technology industry, today.
Dennis polk, formerly the ceo of synnex, is executive chair of the td synnex board of directors. It will make around $57 billion in annual revenue. Ingram micro, the combined distributor, will have a team of 22,000 employees and an estimated $57 billion in pro forma revenues annually.
In that deal, ingram plans to accelerate its current business strategy under existing executive leadership. Prior to joining tech data, rich was with ibm for more than 30 years, serving most recently as general manager and coo, global technology services. Synnex and tech data have completed their $7.2 billion merger to form td synnex.
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