12/27/2023 0 Comments Synnex and tech data mergeUnder the terms of the merger agreement, Apollo Funds received an aggregate 44 million shares of common stock, net $1.1 billion in cash after giving effect to a $500 million equity contribution by Apollo and the refinancing of Tech Data net debt, and now own approximately 45 percent of TD Synnex. was previously wholly owned by funds managed by affiliates of Apollo Global Management, Inc. The combined company, with approximately 57 billion in estimated pro forma annual revenues and a team of over 22,000 associates and colleagues, will provide. “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.” SYNNEX Corporation (NYSE: SNX) and Tech Data today announced they have entered into a definitive merger agreement under which SYNNEX and Tech Data will combine in a transaction valued at approximately 7.2 billion, including net debt. ![]() “We are pleased to have completed the merger and are focused on integrating our businesses,” said Polk. 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 Hume in a statement. ![]() Dennis Polk, previously Synnex’s CEO, is now executive chair of the TD Synnex Board of Directors. The combined company is now known as TD Synnex, led by Rich Hume as its CEO. announced they have completed their merger.
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