This is a big day at Tech Data. A few moments ago, we issued a press release announcing that the Tech Data Board of Directors has unanimously
approved an agreement under which Tech Data will be acquired by funds managed by affiliates of Apollo Global Management, a leading global alternative investment manager. As a result of this transaction, Tech Data will become a private company that
will continue to be headquartered in Clearwater, Florida.
This agreement is a true testament to how far weve come. Over our 45-year history, Tech Data has grown to become one of the largest and most respected technology distributors in the world. With Apollo as our owner, we will be positioned better than ever before to build on that
momentum and accelerate our strategy of delivering higher value.
With a proven track record in the technology industry, Apollo has both the resources and
expertise to invest in our company and help us accelerate our mission to bring to market the technology products and solutions the world needs to connect, grow and advance. Since its inception in 1990, Apollo has invested in more than 300 companies
companies like Tech Data that have a leading business, strong teams and outstanding performance.
In short, Apollo believes in Tech Data in
our vision, our strategy, and most importantly, our team. They understand that our capabilities and global infrastructure provide a great platform for future growth that will enable us to further differentiate ourselves in the market, expand our end-to-end solutions portfolio, and provide our channel partners with unparalleled reach, efficiency and expertise.
And they want to help us get there. As a private company, we will have more flexibility to invest in our people and our portfolio. As a result, there will be
new opportunities for our colleagues as we look to grow our solutions and services.
Looking ahead, the transaction is expected to close in the first half
of calendar year 2020, subject to customary closing conditions and approvals, including approval by Tech Data shareholders. We believe this is a tremendous step forward for Tech Data with unparalleled benefits for all stakeholders: our colleagues,
channel partners and shareholders. At closing, it is anticipated that Tech Data shareholders will receive $130 per share in cash, which represents significant premium cash value for their shares.
Im sure you will have questions, and I commit to keeping you updated as information becomes available to share. Please join me at our global town hall
that will take place later today at 9:00 a.m. ET (click here to download an invitation). In the meantime, this FAQ document will help address questions you may have.
I want to thank you for your hard work and many contributions to Tech Data and appreciate your relentless commitment to serving our channel partners and each
other as we continue to operate the business as usual. I am incredibly proud of what we have accomplished and look forward to taking the next step on this exciting journey together.
Please note: Consistent with company policy,
if you receive any calls from investors or analysts please forward them to Tania Almond firstname.lastname@example.org or the from media to Bobby Eagle email@example.com.