Inflow Technologies Withdraws from Acquisition by Tech Data
February 09 2020 - 11:00PM
Business Wire
Tech Data (Nasdaq: TECD) today announced that Inflow
Technologies has exercised its right to withdraw from closing its
acquisition by Tech Data. As a result, Inflow has paid a break fee
to Tech Data, as outlined in the original acquisition agreement,
which was announced on Dec. 16, 2019.
“We respect Inflow’s decision to go in a different direction,”
said Jaideep Malhotra, President, Asia Pacific, at Tech Data. “Tech
Data is committed to our strategy of delivering higher value by
strengthening our end-to-end portfolio and optimizing our global
footprint, and we continue to explore opportunities to grow our
business in alignment with this strategy.”
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 11 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/20200209005003/en/
Bobby Eagle Director, External Communications, Tech Data +1
(727) 538.5864 bobby.eagle@techdata.com
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