Strategy in TECH...
Tech Data, one of the largest technology distributors in the U.S. and globally, has been acquired by Apollo Global Management, a private equity powerhouse, in a deal valued at $5.4 billion. The deal announced today, is expected to close by mid-2020.
When we first reported on the appointment of Frank Sterns as Sony’s VP of A/V Specialty/Custom Integration on the eve of the September 2013 CEDIA Expo, like many of you…we were skeptical. After all, we’ve heard encouraging announcements from Sony before…only to watch those initiatives in limited distribution, high-end products fall into disrepair through over-distribution, under-resourcing, or both.
But this time is different, Sterns tells us. And as he runs around the country setting up a whole new sales operation…we’re beginning to believe him.
Clearwater, FL-Based Tech Data Corp. said today that it will restate some of its financial results for the period of time covering the fiscal years of 2011, 2012, and 2013. According to the company, it has discovered “improprieties” with how its U.K. subsidiary reflected vendor accounting.
