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It's Official: Synnex-Tech Data Is TD Synnex, The Industry's Largest IT Distributor  CRNSYNNEX and Tech Data Complete Merger to become TD SYNNEX, a Leading Global Distributor and Solutions Aggregator for the IT Ecosystem  Business WireDone Deal: 5 Things To Know About The New TD SYNNEX  CRNTD SYNNEX Announces Board of Directors  Business WireView Full Coverage on Google News
The historic merger between Synnex and Tech Data is complete, the companies said Wednesday, creating an entity called TD Synnex with a combined $59.8 billion in revenue that takes over the top spot as the industry's largest IT distributor, pushing rival Ingram Micro to the No. 2 position for the first time in over three decades.

The $7.2 billion merger of publicly traded Synnex, Fremont, Calif., and private-equity-owned Tech Data, Clearwater, Fla., which was first unveiled on March 22, marks a new era in the bitterly contested distribution battle for the hearts, minds and pocketbooks of solution providers.

Synnex shareholders own 55 percent of the combined company—which will boast more than 150,000 customers, 1,500 vendors on its line card and 22,000 employees—while private equity company Apollo Global Management owns 45 percent. Apollo in June 2020 acquired Tech Data for $5.4 billion.

"TD Synnex is uniquely positioned in today's relentlessly transforming technology ecosystem," said Rich Hume (pictured), TD Synnex CEO, in a prepared statement. "As a versatile distributor and solutions aggregator for the IT ecosystem, we're strengthening our entire portfolio of solutions and raising the bar on the value we deliver to customers and vendors with exceptional reach, efficiency and expertise. It's an honor to lead TD Synnex with a talented team of 22,000 co-workers worldwide."

[Related: Synnex's Michael Urban: 5 Bold Statements On The Synnex-Tech Data Merger]

The blockbuster deal sets the stage for an epic battle between TD SYNNEX and Ingram Micro, the latter of which was acquired by private equity powerhouse Platinum Equity in July.

The closing of the acquisition makes TD Synnex the world's largest IT distributor by revenue with $59.8 billion in sales, the companies said in July. That compares with Ingram Micro, which in April reported fiscal 2020 revenue of $49.1 billion for the year ended Jan. 2. Prior to the acquisition, Tech Data held the No. 2 spot with…
Joseph F. Kovar, September, Am Edt
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