CLEARWATER, Fla., July 1 (Bernama-BUSINESS WIRE) — With its acquisition by funds managed by affiliates of Apollo Global Management now complete,Tech Data (or the “Company”) today announced the Company plans to invest approximately $750 million in digital transformation initiatives over the next five years. The investment will power Tech Data’s strategy to accelerate innovation in ways that will deliverimproved experiences and greater agility for businesses across the technology ecosystem.
“Tech Data’s acquisition by the Apollo funds is a significant milestone, and their support of our multi-year commitment of resources underscores our collective focus on long-term value creation,” said Rich Hume, chief executive officer, Tech Data. “We continue to execute on our strategy to transform our company into one that defines a new standard of operational and cultural excellence in our industry. We believe Apollo will be an invaluable partner in helping us better enable our channel partners to bring to market the technology products and solutions the world needs to connect, grow and advance.”