Tech Data Corporation was previously wholly owned by funds managed by affiliates of Apollo Global Management, Inc. Our focus on corporate social responsibility embodies our commitment to make the world a better place, both today and into the future.” TD SYNNEX provides the ability to accelerate technology adoption, diversify revenue streams, create cross-selling opportunities and bring to market comprehensive everything as a service offerings.Īs part of the merger, Hume underscored TD SYNNEX’ commitment to be a good corporate citizen and the employer of choice in the global IT industry, “Just as TD SYNNEX plays a vital role helping transform the technology landscape, we have an equally important responsibility to have a positive impact on the world. Together, customers and vendors will have unparalleled access to a global distribution platform with best-in-class product offerings in some of the largest and most profitable product segments. “We are energized by the enhanced breadth and depth of our offerings and the opportunities ahead of us to deliver superior value to our stakeholders.” “We are pleased to have completed the merger and are focused on integrating our businesses,” said Dennis Polk, TD SYNNEX Executive Chair of the Board of Directors. It’s an honor to lead TD SYNNEX with a talented team of 22,000 co-workers worldwide." “As a versatile distributor and solutions aggregator for the IT ecosystem, we’re strengthening our entire portfolio of solutions and raising the bar on the value we deliver to customers and vendors with exceptional reach, efficiency and expertise. “TD SYNNEX is uniquely positioned in today’s relentlessly transforming technology ecosystem,” said Rich Hume, TD SYNNEX CEO. Dennis Polk, formerly the CEO of SYNNEX, is Executive Chair of the TD SYNNEX Board of Directors. The combined company is now TD SYNNEX, led by Rich Hume as CEO. & CLEARWATER, Fla.-( BUSINESS WIRE)-SYNNEX Corporation (NYSE: SNX) and Tech Data Corporation today announced the successful completion of their merger. They join us at an exciting time, as we look to execute on our strategic priorities as a combined company and elevate the value we provide to our customers, vendor partners, shareholders and co-workers.FREMONT, Calif. Hume added: “This slate of directors brings together a best-in-class roster of high-calibre individuals with a wealth of knowledge and diverse perspectives which will be invaluable to us. Polk will take charge of a board of directors that includes a mixture of executives from both firms (see box below) and will look to maximise the benefits of the tie-up. “We are energised by the enhanced breadth and depth of our offerings and the opportunities ahead of us to deliver superior value to our stakeholders,” he said. Polk said the focus was on integrating the business now that the merger had been completed. Hume has been following a strategy of taking Tech Data into emerging technology areas, including the internet of things, data analytics and developing its cloud capabilities, and that strategy is unlikely to change with him remaining as CEO of the merged company. “Our focus on corporate social responsibility embodies our commitment to make the world a better place, both today and into the future.” Hume added that the commitment both firms had shown on the sustainability front remained a key focus post-merger: “Just as TD Synnex plays a vital role in helping transform the technology landscape, we have an equally important responsibility to have a positive impact on the world,” he said. It’s an honour to lead TD Synnex with a talented team of 22,000 co-workers worldwide.” “As a versatile distributor and solutions aggregator for the IT ecosystem, we’re strengthening our entire portfolio of solutions and are raising the bar on the value we deliver to customers and vendors with exceptional reach, efficiency and expertise. “TD Synnex is uniquely positioned in today’s relentlessly transforming technology ecosystem,” said Hume. Back in the spring, the plan was revealed to take advantage of net optimisation and synergy benefits of $100m in the first year after closing the deal, with a minimum of $200m by the end of the second year. Under the terms of the deal, Tech Data’s owner, Apollo, has taken ownership of 45% of the combined entity. The two channel players entered into a definitive $7.2bn merger agreement back in March that will create a combined operation with revenues in the region of $57bn and a headcount of around 22,000. The combined company will go by the name of TD Synnex and will be led by Tech Data CEO Rich Hume, with former Synnex boss Dennis Polk becoming executive chairman of the board of directors.
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