Tech Data Signs Definitive Agreement to Acquire Innovix Distribution
Acquisition of Innovix will accelerate Tech Data’s growth as a leading end-to-end solutions aggregator in Asia Pacific.
SINGAPORE–(BUSINESS WIRE)– Tech Data today announced it has entered into an agreement to acquire Innovix Distribution, a leading technology distributor that will grow Tech Data’s presence across the Asia Pacific region and strengthen its end-to-end solutions capabilities. The acquisition is subject to customary closing conditions and is expected to close during the third quarter of Tech Data’s fiscal year 2021.
The addition of Innovix will accelerate Tech Data’s growth in next-generation technologies, including within cloud and security, as well as endpoint offerings across the region. Additionally, the acquisition will expand Tech Data’s business in key geographies, including Hong Kong, Malaysia and Singapore.
“Innovix is a leading regional IT distributor with an expansive range of IT products, solutions and services that will enhance our vendor portfolio, increase our customer base and strengthen our end-to-end solutions capabilities. Innovix’s strong team of 500+ experienced professionals have in-depth local industry knowledge that will augment our expertise in the market and strengthen our ability to deliver higher value to our channel partners across the region,” said Jaideep Malhotra, president, Asia Pacific, Tech Data. “This investment demonstrates our commitment to the Asia Pacific region and is an important, early milestone in our transformational journey since being acquired by Apollo Global Management. The addition of Innovix reinforces our collective focus on growth and diversification, supporting Tech Data’s announced plans to transform our company into one that defines a new standard of operational and cultural excellence in our industry.”
Innovix is a well-established leading technology distributor in Asia, headquartered in Hong Kong. Currently a part of Fortune Global 500-listed Jardine Matheson Group, Innovix has an extensive distribution network that spans more than 8,000 channel partners in Asia. The company works in partnership with leading global brands to provide an expansive range of technology products, solutions and services to all channel segments in the region.
“At Innovix, we are proud to have built a 60-plus-year reputation as a leading IT distributor in the Asia Pacific region,” said Eric van der Hoeven, chief executive officer, Innovix. “Our focus on helping businesses accelerate growth and capitalize on digital transformation is perfectly aligned with Tech Data’s mission to connect the world with the power of technology, and we look forward to working together to serve this market and stay ahead of evolving technologies and consumption models.”
About Tech Data
Tech Data connects the world with the power of technology. Our 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. To find out more, visit www.techdata.com or follow us on Twitter, LinkedIn, Facebook and Instagram.
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Source: Tech Data