Tech Data Announces Agreement To Acquire DLT Solutions
October 30 2019 - 9:00AM
Business Wire
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.”
Forward-Looking Statements
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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version on businesswire.com: https://www.businesswire.com/news/home/20191030005553/en/
Investor Tania Almond Investor Relations Director +1
727.538.7064 tania.almond@techdata.com Media Bobby Eagle
Director, External Communications +1 727.538.5864
bobby.eagle@techdata.com
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