HERNDON, Va., Oct. 30, 2019 /PRNewswire/ -- DLT Solutions,
the premier government solutions aggregator, announced today that
it has entered into a definitive agreement to be acquired by Tech
Data (Nasdaq: TECD). Upon closing of the transaction, DLT will
become a wholly owned subsidiary of Tech Data.
DLT has experienced continued growth through sales of
next-generation technologies, including cloud and cybersecurity, to
the public sector since its acquisition by Mill Point Capital in
2015.
"This transaction represents an opportunity for DLT to expand
its value proposition by aligning with a Fortune 100 company that
brings broader vendor and partner relationships, financial
strength, and a strong commitment to solutions aggregation," said
Art Richer, CEO of DLT.
"Government customers continue to look to new cloud and
as-a-service delivery models requiring access to more technologies
and partners to deliver them. The addition of DLT enables Tech Data
to proactively develop opportunities, accelerate growth and
simplify complexity for its channel partners serving the U.S.
public sector space."
This acquisition is subject to customary regulatory approval and
is expected to close during Tech Data's fourth fiscal quarter.
Michael Duran, Founder and
Managing Partner of Mill Point Capital, said, "We recognized the
opportunity for growth in cloud and software adoption in the public
sector market and invested in the capabilities necessary to bring
value to our channel partners. Under the leadership of Art
and his management team, DLT has expanded its value proposition and
has grown to become the leading solutions aggregator in the public
sector. Signing this agreement with Tech Data allows for a
combination of value that will further accelerate growth in this
market."
DLT was represented in this transaction by
Evercore.
DLT Solutions (www.dlt.com) accelerates
public sector growth for technology companies in the federal, state
and local, education, utilities and healthcare markets. As the
premier government solutions aggregator, DLT creates value for
technology companies by enabling their public sector customers to
make smarter technology choices through access to a robust network
of partners, a broad portfolio of over 50 in-house contract
vehicles, and dedicated channel enablement services.
Tech Data (www.techdata.com) connects the world with
the power of technology. Tech Data's 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.
Mill Point Capital (www.millpoint.com.)is a private
equity firm targeting control investments in lower-middle market
businesses, with a focus on industrials and business services
companies in North America. Mill
Point's experienced team of investors and Executive Partners seek
to enhance the value of portfolio companies by executing
transformative strategic initiatives and operational improvements.
Mill Point is based in New York,
NY.
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SOURCE DLT Solutions