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{{Short description|U.S.-based technology company}}
[[Image:Tech_data_hq_061006.jpg|thumb|Tech Data HQ 5350 Tech Data Dr, Clearwater, FL 33760 Taken from the parking lot looking east late on an October afternoon. ]]'''Tech Data''' ({{NYSE|TECD}}) is a [[Fortune 500]] technology company based in [[Clearwater, Florida]], in the [[United States]]. It is an important distributor of information technology, with over 90,000 customers world wide. Tech Data has expanded from ten employees and $2 million in sales in 1983 to 8,400 employees and sales of over $21.4 billion USD in its last fiscal year, ending in January of 2007. It is the [[Tampa Bay area]]'s largest public company and the second largest one in Florida.[http://pqasb.pqarchiver.com/sptimes/access/1088581411.html?dids=1088581411:1088581411&FMT=FT&FMTS=ABS:FT&date=Aug+3%2C+2006&author=KRIS+HUNDLEY&pub=St.+Petersburg+Times&edition=&startpage=1.D&desc=Tech+Data%27s+quarter+fizzles]
{{Infobox company
| name = Tech Data Corporation
| logo = Tech Data logo.png
| image = Tech data hq 061006.jpg
| founder = [[Edward C. Raymund]]
| key_people = Rich Hume ([[Chief executive officer|CEO]])<br>Charles V. Dannewitz ([[Chief financial officer|CFO]])
| area_served = Worldwide
| type = [[Privately held company|Private]]
| traded_as = {{NASDAQ was|TECD}}
| industry = [[Distribution (business)]]<br>[[Technology]]<br>[[Electronics]]<br>[[Computer hardware]]<br>[[Computer software]]<br>[[Information technology consulting|IT consulting]]<br>[[Retail]]
| revenue = {{increase}} {{US$|36.775 billion|link=yes}} {{small|(2018)<ref name="10-K">{{cite web|url=https://www.sec.gov/Archives/edgar/data/790703/000079070318000011/fy1810kdocument.htm |title=Tech Data Corporation FY2018 Annual Report (Form 10-K) |date=March 2018 |publisher=[[U.S. Securities and Exchange Commission]] |website=sec.gov}}</ref>}}
| operating_income = {{increase}} {{US$|410 million}} {{small|(2018)<ref name="10-K" />}}
| net_income = {{decrease}} {{US$|116 million}} {{small|(2018)<ref name="10-K" />}}
| assets = {{increase}} {{US$|12.653 billion}} {{small|(2018)<ref name="10-K" />}}
| equity = {{increase}} {{US$|2.921 billion}} {{small|(2018)<ref name="10-K" />}}
| num_employees = ~14,000 {{small|(January 2018)<ref name="10-K" />}}
| image_caption = Tech Data HQ
| foundation = {{Start date and years ago|1974}}, in Clearwater, Florida, U.S.
| location_city = 5350 Tech Data Drive, [[Clearwater, Florida]]
| location_country = U.S.
| owner = [[Apollo Global Management]]
| website = {{URL|techdata.com}}
}}
{{Lead rewrite|date=May 2022}}


'''Tech Data Corporation''' was an American [[multinational corporation|multinational]] [[distribution (business)|distribution]] company specializing in IT products and services headquartered in [[Clearwater, Florida|Clearwater]], [[Florida]]. It merged with competitor [[Synnex]] to form [[TD Synnex]]. Synnex is to be the primary owner (55% share).<ref name="Kilgore">{{Cite web|last=Kilgore|first=Tomi|title=Synnex stock rallies toward a record after $7.6 billion merger deal with Apollo's Tech Data|url=https://www.marketwatch.com/story/synnex-stock-rallies-toward-a-record-after-76-billion-merger-deal-with-apollos-tech-data-2021-03-22|access-date=2021-03-22|website=MarketWatch|language=en-US}}</ref> Tech Data provided a broad range of product lines, logistics capabilities and value-added services that enable technology manufacturers and resellers, such as [[Google]], [[Apple Inc.|Apple]], [[Cisco]], [[Dell]], [[Fortinet]], [[Hewlett Packard Enterprise]], [[HP Inc.]], [[IBM]], [[Lenovo]], [[LG]], [[Microsoft]], [[Sony]], [[Trend Micro]], [[Viewsonic]], [[TP-Link]] and [[VMware]], to deploy IT solutions.
Founded in 1974 by [[Edward C. Raymund]], Tech Data began by marketing [[data processing]] supplies directly to end users of mini and [[mainframe computer]]s. In 1983 the company expanded its targeted markets and redirected its efforts toward servicing [[microcomputer]] resellers as a wholesale distributor. Tech Data expanded into [[Canada]] in 1989 through an acquisition, and in early 1993 the company launched an export division based in Miami to serve the [[Latin America]]n market. Tech Data entered the European market in 1994 through the acquisition of Paris-based Softmart International, S.A, France's largest distributor of personal computer products. In July 1998 the company acquired a majority interest in Munich-based [[Computer 2000]], Europe's leading provider of IT products to resellers. Its overseas performance was disappointing in the quarter ending June 30, 2006. [http://pqasb.pqarchiver.com/sptimes/access/1088581411.html?dids=1088581411:1088581411&FMT=FT&FMTS=ABS:FT&date=Aug+3%2C+2006&author=KRIS+HUNDLEY&pub=St.+Petersburg+Times&edition=&startpage=1.D&desc=Tech+Data%27s+quarter+fizzles] Despite this, it was the world's second greatest distributor of computer products in mid [[2006]]. [http://pqasb.pqarchiver.com/sptimes/access/1042519121.html?dids=1042519121:1042519121&FMT=FT&FMTS=ABS:FT&date=May+24%2C+2006&author=&pub=St.+Petersburg+Times&edition=&startpage=2.D&desc=EARNINGS]


Tech Data is now one of the world's largest distributors of IT products and services, generating $37.7 billion in net sales for the fiscal year ended January 31, 2017.<ref>{{Cite web|url=http://fortune.com/fortune500/tech-data/|title=Tech Data|website=Fortune|language=en-US|access-date=2018-11-10}}</ref> The company ranked No. 83 on the 2018 Fortune 500<ref>{{cite web|url=http://fortune.com/fortune500/tech-data/|title=Fortune 500|publisher=Fortune Magazine}}</ref> and one of Fortune's "World's Most Admired Companies."<ref>{{cite web|url=http://fortune.com/worlds-most-admired-companies/tech-data-100000/ |title=World's Most Admired Companies 2015 |publisher=Fortune Magazine }}</ref>
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== External links and references==

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- *[http://www.techdata.com Tech Data website]
==History==
- *[http://www.hoovers.com/tech-data/--ID__14882--/free-co-factsheet.xhtml?cm_ven=PAID&cm_cat=BUS&cm_pla=CO1&cm_ite=Tech_Data_Corp Tech Data Corporation information and related industry information from Hoover's]
Founded in Clearwater, FL by [[Edward C. Raymund]] in November 1974, Tech Data Corporation marketed data processing supplies for mini and mainframe computers. In 1983, Tech Data began to transition from a reseller to full-line national distributor of personal computer products, a transition led by Steven A. Raymund, Edward's son.
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- [[Category:Companies based in Florida]]
Steve A. Raymund succeeded Edward C. Raymund as Chief Executive Officer in 1986, the same year Tech Data announced its initial public stock offering on [[NASDAQ]] (ticker symbol: TECD).
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- [[Category:Companies established in 1974]]

- [[Category:Fortune 1000]]
Over the past 20 years, Tech Data expanded its business into Canada, Mexico and Europe by acquiring 18 companies. Some companies acquired included Canada-based ParityPlus, Paris-based Softmart International, Munich-based Computer 2000 AG, Globelle Canada, UK-based Azlan Group PLC, Actebis AG Switzerland, Nordics-based IT distributor Scribona, Netherlands-based Triade Holding B.V., Specialist Distribution Group (SDG), and Signature Technology Group (STG).<ref>{{cite web|url=https://www.techdata.com/content/visitor/abouttd/td_hist.aspx |title=Tech Data History |publisher=Tech Data Corporation }}</ref>
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- [[Category:Clearwater, Florida]]

- [[Category:Tampa Bay Area]]
In 2013, Tech Data lost out on nearly 27 million euros in profit following an accounting error by their former financial comptroller.<ref>{{Cite web|url=https://www.theregister.co.uk/2017/12/20/penalties_for_tech_data_accountants/|title=One more beancounter given a spanking over Tech Data chicanery|first=Paul|last=Kunert|date=20 December 2017|website=[[The Register]]|language=en|access-date=2019-03-17}}</ref>
In the second quarter of 2015, Tech Data posted record earnings, increasing net income by 22.4% and sales by 8%. Tech Data's data-center business is attributed with the record earnings.<ref>{{cite web|url=http://www.crn.com/news/channel-programs/video/300077857/channel-beat-earnings-from-hp-salesforce-tech-data-soar.htm |title=Channel Beat: Earnings From HP, Salesforce, Tech Data Soar |date=21 August 2015 |publisher=CRN }}</ref>

In September 2016, Tech Data announced that it had entered into an agreement to acquire the Technology Solutions operating group from [[Avnet|Avnet, Inc.]] in a stock and cash transaction valued at approximately US$2.6 billion. Under the terms of the agreement, Avnet received at closing approximately US$2.4 billion in cash and 2.785 million shares of Tech Data common stock, representing an approximate 7 percent ownership position in Tech Data. The acquisition was closed in February 2017.

ExitCertified is a wholly owned subsidiary of Tech Data Corporation with head offices in Canada (Ottawa) and the USA (Sacramento).

In November 2019, Tech Data announced that [[Apollo Global Management]] would acquire the company for approximately $6 billion.<ref>{{Cite web|url=https://www.bizjournals.com/tampabay/news/2019/11/13/tech-data-acquired-in-5-4-billion-deal.html|title=Tech Data acquired in $5.4 billion deal|last=Coffey|first=Lauren|date=13 November 2019|website=Tampa Bay Business Journal|archive-url=|archive-date=|access-date=2019-12-05}}</ref><ref>{{Cite web|url=https://observer.com/2019/12/warren-buffett-berkshire-hathaway-cash-acquisition-tech-data-fail-apollo/|title=Warren Buffett Failed to Spend His $128 Billion Cash Pile in Unusual Bid|date=2019-12-03|website=Observer|language=en|access-date=2019-12-05}}</ref> The deal was closed on June 30, 2020.

On March 22, 2021, it was announced that [[Synnex]] would acquire 55% of Tech Data for a sum of $7.2 billion including debt.<ref name="Kilgore"/>

=== Merger with Synnex ===
On September 1, 2021, Tech Data completed a merger with [[Synnex]]. This merger created a new company with $59.8 billion in revenue, [[TD Synnex]]. Through the combination of both companies, TD Synnex becomes the largest IT distributor, surpassing [[Ingram Micro]]. TD Synnex is led by former Tech Data CEO, Rich Hume.<ref>{{Cite web|last=Kovar|first=Joseph F.|date=2021-09-01|title=It's Official: Synnex-Tech Data Is TD Synnex, The Industry's Largest IT Distributor|url=https://www.crn.com/news/channel-programs/it-s-official-synnex-tech-data-is-td-synnex-the-largest-it-distributor|access-date=2021-11-08|website=CRN}}</ref>

== See also ==
* Competitor [[Ingram Micro]]
* Competitor [[Arrow Electronics]]
* Competitor [[Avnet|AVNET INC]]

== References ==
{{Reflist|26em}}

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== External links ==
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*[http://www.techdata.com Tech Data Website]
*[https://www.exitcertified.com/ ExitCertified Website]

{{Authority control}}

[[Category:Multinational companies headquartered in the United States]]
[[Category:Software companies based in Florida]]
[[Category:Information technology companies of the United States]]
[[Category:Distribution companies of the United States]]
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[[Category:Companies based in Clearwater, Florida]]
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[[Category:American companies established in 1974]]
[[Category:Software companies established in 1974]]
[[Category:Computer companies established in 1974]]
[[Category:Business services companies established in 1974]]
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[[Category:1974 establishments in Florida]]
[[Category:Companies formerly listed on the Nasdaq]]
[[Category:1980s initial public offerings]]
[[Category:2020 mergers and acquisitions]]
[[Category:2021 mergers and acquisitions]]
[[Category:Defunct software companies of the United States]]
[[Category:Apollo Global Management companies]]

Latest revision as of 08:36, 1 October 2024

Tech Data Corporation
Company typePrivate
Nasdaq: TECD
IndustryDistribution (business)
Technology
Electronics
Computer hardware
Computer software
IT consulting
Retail
Founded1974; 50 years ago (1974), in Clearwater, Florida, U.S.
FounderEdward C. Raymund
Headquarters
5350 Tech Data Drive, Clearwater, Florida
,
U.S.
Area served
Worldwide
Key people
Rich Hume (CEO)
Charles V. Dannewitz (CFO)
RevenueIncrease US$36.775 billion (2018)[1]
Increase US$410 million (2018)[1]
Decrease US$116 million (2018)[1]
Total assetsIncrease US$12.653 billion (2018)[1]
Total equityIncrease US$2.921 billion (2018)[1]
OwnerApollo Global Management
Number of employees
~14,000 (January 2018)[1]
Websitetechdata.com

Tech Data Corporation was an American multinational distribution company specializing in IT products and services headquartered in Clearwater, Florida. It merged with competitor Synnex to form TD Synnex. Synnex is to be the primary owner (55% share).[2] Tech Data provided a broad range of product lines, logistics capabilities and value-added services that enable technology manufacturers and resellers, such as Google, Apple, Cisco, Dell, Fortinet, Hewlett Packard Enterprise, HP Inc., IBM, Lenovo, LG, Microsoft, Sony, Trend Micro, Viewsonic, TP-Link and VMware, to deploy IT solutions.

Tech Data is now one of the world's largest distributors of IT products and services, generating $37.7 billion in net sales for the fiscal year ended January 31, 2017.[3] The company ranked No. 83 on the 2018 Fortune 500[4] and one of Fortune's "World's Most Admired Companies."[5]

History

[edit]

Founded in Clearwater, FL by Edward C. Raymund in November 1974, Tech Data Corporation marketed data processing supplies for mini and mainframe computers. In 1983, Tech Data began to transition from a reseller to full-line national distributor of personal computer products, a transition led by Steven A. Raymund, Edward's son.

Steve A. Raymund succeeded Edward C. Raymund as Chief Executive Officer in 1986, the same year Tech Data announced its initial public stock offering on NASDAQ (ticker symbol: TECD).

Over the past 20 years, Tech Data expanded its business into Canada, Mexico and Europe by acquiring 18 companies. Some companies acquired included Canada-based ParityPlus, Paris-based Softmart International, Munich-based Computer 2000 AG, Globelle Canada, UK-based Azlan Group PLC, Actebis AG Switzerland, Nordics-based IT distributor Scribona, Netherlands-based Triade Holding B.V., Specialist Distribution Group (SDG), and Signature Technology Group (STG).[6]

In 2013, Tech Data lost out on nearly 27 million euros in profit following an accounting error by their former financial comptroller.[7]

In the second quarter of 2015, Tech Data posted record earnings, increasing net income by 22.4% and sales by 8%. Tech Data's data-center business is attributed with the record earnings.[8]

In September 2016, Tech Data announced that it had entered into an agreement to acquire the Technology Solutions operating group from Avnet, Inc. in a stock and cash transaction valued at approximately US$2.6 billion. Under the terms of the agreement, Avnet received at closing approximately US$2.4 billion in cash and 2.785 million shares of Tech Data common stock, representing an approximate 7 percent ownership position in Tech Data. The acquisition was closed in February 2017.

ExitCertified is a wholly owned subsidiary of Tech Data Corporation with head offices in Canada (Ottawa) and the USA (Sacramento).

In November 2019, Tech Data announced that Apollo Global Management would acquire the company for approximately $6 billion.[9][10] The deal was closed on June 30, 2020.

On March 22, 2021, it was announced that Synnex would acquire 55% of Tech Data for a sum of $7.2 billion including debt.[2]

Merger with Synnex

[edit]

On September 1, 2021, Tech Data completed a merger with Synnex. This merger created a new company with $59.8 billion in revenue, TD Synnex. Through the combination of both companies, TD Synnex becomes the largest IT distributor, surpassing Ingram Micro. TD Synnex is led by former Tech Data CEO, Rich Hume.[11]

See also

[edit]

References

[edit]
  1. ^ a b c d e f "Tech Data Corporation FY2018 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. March 2018.
  2. ^ a b Kilgore, Tomi. "Synnex stock rallies toward a record after $7.6 billion merger deal with Apollo's Tech Data". MarketWatch. Retrieved 2021-03-22.
  3. ^ "Tech Data". Fortune. Retrieved 2018-11-10.
  4. ^ "Fortune 500". Fortune Magazine.
  5. ^ "World's Most Admired Companies 2015". Fortune Magazine.
  6. ^ "Tech Data History". Tech Data Corporation.
  7. ^ Kunert, Paul (20 December 2017). "One more beancounter given a spanking over Tech Data chicanery". The Register. Retrieved 2019-03-17.
  8. ^ "Channel Beat: Earnings From HP, Salesforce, Tech Data Soar". CRN. 21 August 2015.
  9. ^ Coffey, Lauren (13 November 2019). "Tech Data acquired in $5.4 billion deal". Tampa Bay Business Journal. Retrieved 2019-12-05.
  10. ^ "Warren Buffett Failed to Spend His $128 Billion Cash Pile in Unusual Bid". Observer. 2019-12-03. Retrieved 2019-12-05.
  11. ^ Kovar, Joseph F. (2021-09-01). "It's Official: Synnex-Tech Data Is TD Synnex, The Industry's Largest IT Distributor". CRN. Retrieved 2021-11-08.
[edit]
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