Tech Data Acquires Avnet’s Technology Solutions Business

Tech Data just got larger with the recent acquisition of Avent’s Technology Solutions Business (NYSE:AVT).  According to Tech Data’s press release: “The addition of Technology Solutions significantly broadens Tech Data’s value-added distribution business, increasing the company’s ability to help its partners capitalize on next-generation technologies while enhancing its go-to-market capabilities with complementary skills, expanded vendor relationships, and new customer sets.  The combined company has a larger and more balanced geographic footprint, including a presence in the Asia-Pacific region, a new market for Tech Data. The company has operations in 40 countries, with 14,000 employees serving approximately 115,000 customers in more than 100 countries.”

According to the press release, Tech Data paid almost a whopping $2.6 billion in cash and stocks issued for the acquisition.

Tech Data (NASDAQ:TECD) is ranked #108 on the Fortune 500, and it is located in near proximity to St. Petersburg (sits on the Clearwater side near the St. Petersburg/Clearwater border).  With this major announcement, it will be very exciting to see more tech jobs created in the St. Petersburg market for years to come!