Tech Data Signs Definitive Agreement to Acquire the Business of Inflow Technologies
Tech Data is investing in next-generation technologies, strengthening its end-to-end portfolio and optimizing its footprint in Asia SINGAPORE, (Dec. 17, 2019) – Tech Data (Nasdaq: TECD) today announced it has entered into an agreement to acquire the business of Inflow Technologies (“Inflow Technologies”), a leading value-added distributer with expertise in areas like cybersecurity and networking. The acquisition is subject to customary regulatory approvals and is expected to close during Tech Data’s first quarter of fiscal year 2021. By acquiring the business of Inflow Technologies, Tech Data will optimize its presence in the Asia Pacific region and strengthen the company’s end-to-end portfolio, enabling customers to offer a broader set of capabilities particularly around next-generation technologies like security. Rich Hume, chief executive officer, Tech Data “The addition of Inflow Technologies directly supports our strategy of delivering higher value – especially in the areas of investing in next-generation technologies, strengthening our end-to-end portfolio and optimizing our global footprint,” said Rich Hume, chief executive officer, Tech Data. “In particular, this acquisition helps us to strengthen our portfolio of networking and security solutions we’re able to offer to our channel partners while optimizing our footprint in Asia Pacific, which is an important region for Tech Data.” Inflow Technologies is headquartered in Bangalore, India, and is a value-added distributor for a host of technologies, including cybersecurity, networking, unified communications and collaboration, storage and server management, infrastructure and application software, automatic identification and data capture, electronic security, and related services in South Asia. Byju Pillai, president and chief executive officer, Inflow Technologies “As a technology enabler, Inflow Technologies brings a variety of core competencies to Tech Data, including business development, channel engagement, training, and pre-sales and post-sales support,” said Byju Pillai, president and chief executive officer, Inflow Technologies. “Our combined skills, portfolios, talent and shared commitment to exceptional service with world-class execution will enable us deliver higher value to our channel partners.” Forward-Looking Statements Certain statements in this communication may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, including statements regarding Tech Data’s plans, objectives, expectations and intentions, Tech Data’s financial results and estimates and/or business prospects, involve a number of risks and uncertainties and actual results could differ materially from those projected. These forward-looking statements are based on current expectations, estimates, forecasts, and projections about the operating environment, economies and markets in which Tech Data operates and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward looking statements. In addition, any statements that refer to projections of Tech Data’s future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances, are forward looking statements. These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.
For additional information with respect to risks and other factors which could occur, see Tech Data’s Annual Report on Form 10-K for the year ended January 31, 2019, including Part I, Item 1A, “Risk Factors” therein, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other securities filings with the Securities and Exchange Commission (the “SEC”) that are available at the SEC’s website at www.sec.gov and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Many of these factors are beyond Tech Data’s control. Unless otherwise required by applicable securities laws, Tech Data disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Tech Data undertakes no duty to update any forward-looking statements contained herein to reflect actual results or changes in Tech Data’s expectations.
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