Tech Data (or the “Company”) today announced that they are planning to invest a sum of $750 million in digital transformation efforts over the coming five years. This investment will help Tech Data to accelerate their strategy of innovating and delivering better experiences and agility to the business enterprises.
Rich Hume, chief executive officer, Tech Data said that the acquisition of Tech Data by Apollo funds is a big milestone. They continue to execute their strategy to transform the company such that it defines new operational and cultural standards. They firmly believe that Apollo will be an important partner who will aid them to enable their channel partners to bring the technology products and solutions that the world needs for growth to the market.
Tech Data’s digital transformation focuses on providing state-of-the-art automation, platforms and analytics which will allow the Company to be more agile and responsive to the continuously changing needs of their channel partners. The program also includes building a highly scalable digital and business platform and also a cloud-based digital marketplace that can support Tech Data’s robust growth plans.
Robert Kalsow-Ramos, Private Equity Partner at Apollo said that Apollo views Tech Data as a strong platform for potential growth and diversity. They assured full support for this investment.