Author: Jane Edwards|| Date Published: December 6, 2019
Information technology distribution company Tech Data (Nasdaq: TECD) has completed its acquisition of DLT Solutions for approximately $205M in cash in a push to advance growth initiatives and create opportunities for channel partners in the public sector.
Tech Data initially announced the deal in late October and disclosed the purchase price through a Securities and Exchange Commission filing.
Herndon, Va.-based DLT is a government technology aggregator focused on providing customers access to software, cloud, big data and analytics, cybersecurity and other IT offerings through its spots on several contract vehicles.
Tech Data received a new takeover offer from Tiger Midco, an affiliate of funds managed by alternative investment manager Apollo Global Management™s (NYSE: APO) affiliates. Tiger Midco moved to increase its offer for Tech Data from $130 in cash per share to $145 per share, or approximately $6B, under an amended deal.
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