Tech Data has completed its $2.6bn acquisition of the Technology Solutions business from Avnet, creating a global end-to-end IT distributor.
Tech Data CEO Bob Dutkowsky said: "Our combined company is positioned at the epicentre of the IT ecosystem-with the scale and scope to serve dynamic markets throughout the world, giving our customers access to an end-to-end portfolio of IT solutions and bringing our vendors' products to new customers in more markets."
The addition of Technology Solutions broadens Tech Data's value-added distribution business, 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.
The transaction is expected to be accretive to Tech Data's non-GAAP earnings per share in the first full year. The company expects to achieve annual cost savings of approximately $100m within 24 months, with one-time costs to achieve these cost savings expected to be approximately $150m.