Tech Data Corp. Announces Expected Closing Date for Acquisition of Avnet’s Technology Solutions Business

2/17/17

CLEARWATER, Fla., Feb. 17, 2017 (GLOBE NEWSWIRE) -- Tech Data Corporation (NASDAQ:TECD) today announced its current expectations concerning the closing of its acquisition of Avnet’s Technology Solutions business. There has been substantial progress towards meeting the conditions to closing, and, subject to receipt of final regulatory approvals, particularly the European Commission, the acquisition could close by the end of February 2017. For details of the transaction refer to the press release titled “Tech Data Corporation to Acquire Technology Solutions Business from Avnet for $2.6 billion” dated September 19, 2016.

About Tech Data

Tech Data Corporation is one of the world’s largest wholesale distributors of technology products, services and solutions. Its advanced logistics capabilities and value added services enable 105,000 resellers to efficiently and cost effectively support the diverse technology needs of end users in more than 100 countries. Tech Data generated $26.4 billion in net sales for the fiscal year ended January 31, 2016. It is ranked No. 108 on the Fortune 500® and one of Fortune’s “World’s Most Admired Companies.”

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