Distributor Tech Data plans to invest circa $750m in digital transformation initiatives over the next five years following the finalisation of it Apollo Global Management acquisition.
“Tech Data’s acquisition by the Apollo funds is a significant milestone, and its support of our multi-year commitment of resources underscores our collective focus on long-term value creation,” said Rich Hume (pictured), CEO, Tech Data.
The digital initiatives are focused on delivering automation, platforms and analytics.
“Apollo sees Tech Data as a strong platform for meaningful growth and further diversification, and we are committed to supporting investments that build on this vision,” said Robert Kalsow-Ramos, Private Equity Partner at Apollo.
“This investment over the next five years helps ensure the company has the resources necessary to launch a bold digital enablement and innovation program that will transform the way it serves channel partners and employees.”