Tech Data Buys Technology business for $2.6B
Tampa Bay's largest public company, Tech Data Corp., is buying Phoenix-based technology distributor, Avnet Technology Solutions, under a $2.6 billion deal.
The Tampa Bay Times reported Monday that Tech Data CEO Bob Dutkowsky said the acquisition is not only the largest in company history, but also a landmark for Tampa Bay business overall.
The deal is expected to be completed in early 2017.
Clearwater-based Tech Data represents more than 1,000 manufacturers in distributing technology products, services and solutions. It currently has about $26 billion in annual revenue. With the acquisition, it will become a $35 billion company with 14,000 employees.
Technology Solutions has about 5,000 employees worldwide, including the Asia-Pacific market. Until now, Tech Data had focused on the Americas and Europe.