Tech Data (NASDAQ:TECD)
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2 Months : From Oct 2019 to Dec 2019
Acquisition strengthens Tech Data’s next-generation solutions portfolio, enabling the company to proactively develop opportunities for channel partners serving the U.S. public sector
Tech Data (Nasdaq: TECD) today announced it has entered into an agreement to acquire DLT Solutions, a premier software and cloud solutions aggregator focused on the U.S. public sector. Upon closing of the transaction, DLT will become a wholly owned subsidiary of Tech Data. The acquisition is subject to customary regulatory approvals and is expected to close during Tech Data’s fourth fiscal quarter.
By bringing deeper specialization in the federal, state and local markets, the addition of DLT enables Tech Data to proactively develop opportunities, accelerate growth and simplify complexity for its channel partners that are serving the U.S. public sector space.
"This acquisition reflects our strategy of delivering higher value – strengthening our end-to-end portfolio and accelerating our capabilities in next-generation technologies – and we look forward to welcoming DLT’s colleagues to Tech Data," said Rich Hume, chief executive officer at Tech Data. "The addition also demonstrates how our portfolio optimization actions are freeing up capital, which is enabling us to invest in high-quality growth opportunities that advance our strategy and provide higher-value solution offerings to our partners.”
Headquartered in Herndon, Virginia, DLT is a government solutions aggregator that accelerates public sector growth for business partners that serve the federal, state and local markets. DLT creates value by providing access to a robust network of channel partners and a broad portfolio of more than 50 in-house contract vehicles.
“We are thrilled to join the Tech Data team,” said Art Richer, chief executive officer at DLT Solutions. “This acquisition combines our public sector expertise and capabilities with a leading Fortune 100 company known for creating value across the technology ecosystem. It represents an opportunity to apply our unique public sector value proposition to a broader set of vendors and partners.”
Certain statements in this communication may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, including statements regarding Tech Data’s plans, objectives, expectations and intentions, Tech Data’s financial results and estimates and/or business prospects, involve a number of risks and uncertainties and actual results could differ materially from those projected. These forward-looking statements are based on current expectations, estimates, forecasts, and projections about the operating environment, economies and markets in which Tech Data operates and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Tech Data’s future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances, are forward looking statements. These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.
For additional information with respect to risks and other factors which could occur, see Tech Data’s Annual Report on Form 10-K for the year ended January 31, 2019, including Part I, Item 1A, “Risk Factors” therein, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other securities filings with the Securities and Exchange Commission (the “SEC”) that are available at the SEC’s website at www.sec.gov and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Many of these factors are beyond Tech Data’s control. Unless otherwise required by applicable securities laws, Tech Data disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Tech Data undertakes no duty to update any forward-looking statements contained herein to reflect actual results or changes in Tech Data’s expectations.
About Tech Data
Tech Data connects the world with the power of technology. Our end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow and advance. Tech Data is ranked No. 88 on the Fortune 500® and has been named one of Fortune’s World’s Most Admired Companies for 10 straight years. To find out more, visit www.techdata.com or follow us on Twitter, LinkedIn, Facebook and Instagram.
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