![]() ![]() Our focus on corporate social responsibility embodies our commitment to make the world a better place, both today and into the future. “Just as TD SYNNEX plays a vital role helping transform the technology landscape, we have an equally important responsibility to have a positive impact on the world. “We are energized by the enhanced breadth and depth of our offerings and the opportunities ahead of us to deliver superior value to our stakeholders.”Īs part of the merger, Hume underscored TD SYNNEX’ commitment to be a good corporate citizen and the employer of choice in the global IT industry. The 7.2 billion merger of publicly traded Synnex, Fremont, Calif., and private-equity-owned Tech Data, Clearwater, Fla., which was first unveiled on March 22, marks a new era in the bitterly. “We are pleased to have completed the merger and are focused on integrating our businesses,” said Dennis Polk, TD SYNNEX Executive Chair of the Board of Directors. ![]() Now, Apollo Global Management owns about 45% of TD Synnex, according to the announcement. was previously wholly owned by Apollo Global Management, which received 33 million shares of common stock for about $1.1 billion in cash after giving effect to a $500 million equity contribution by Apollo and the refinancing of Tech Data net debt. Synnex acquired Tech Data from New York private equity firm Apollo Global Management Inc., which bought the Clearwater, Fla.-based company for about $6 billion last year.Īccording to the press release, Tech Data Corp. The companies first announced the merger in March, saying the combined firm will operate in more than 100 countries and serve 150,000 customers, offering more than 200,000 products and solutions from more than 1,500 vendors. Founded in 1980, SYNNEX Corporation operates in numerous countries throughout North and South America, Asia-Pacific and EuropeĬheck Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.Tech Distributors Synnex and Tech Data Corporation have completed their merger, and the combined company is now known as TD Synnex.Īccording to a joint press release, former Tech Data’s CEO Rich Hume will retain the position and lead the combined organization, while former Synnex CERO Dennis Polk will be executive chair of the TD Synnex Board of Directors. SYNNEX Corporation (NYSE: SNX) is a Fortune 200 corporation and a leading provider of a comprehensive range of distribution, systems design and integration services for the technology industry to a wide range of enterprises. The transaction remains subject to the satisfaction of regulatory approvals and customary closing conditions and is expected to close in the second half of calendar year 2021.Īlso Check: Introducing the TOUGHBOOK S1 Developed to deliver all the features you want, and all the rugged you need ![]() “We look forward to completing the remaining steps to close this transaction.”Īlso Read: Six Ways IT can Balance the Equation of Innovation and OperationĪpproval by SYNNEX stockholders is a condition to the closing of the merger. “We would like to thank our shareholders for their full support of this merger,” said Dennis Polk, CEO of SYNNEX. SYNNEX Corporation (NYSE: SNX), a leading provider of distribution, systems design and integration services for the technology industry, today announced that, based on the voting results from its special meeting held today, SYNNEX stockholders have approved the previously announced merger agreement with Tech Data. ![]()
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