Tech Data Completes Sale to Apollo
June 30, 2020
Cleary Gottlieb represented Tech Data Corp. (Tech Data) in its sale to funds managed by affiliates of Apollo Global Management Inc. (Apollo).
The transaction originally signed on November 12, 2019, and a revised deal entered into on November 27, 2019, in response to an intervening third-party bid. The transaction closed on June 30, 2020. The merger consideration consisted of $145 per share of Tech Data common stock for a total enterprise value of approximately $6 billion.
Tech Data is one of the world’s largest technology distributors. Its end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow, and advance. Tech Data is ranked No. 90 on the Fortune 500 and has been named one of Fortune’s World’s Most Admired Companies for 11 straight years.
Apollo is a leading global alternative investment manager with approximately $323 billion in assets under management across credit, private equity, and real assets funds.