EX-99.1
7
d213822dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
SYNNEX and Tech Data Complete Merger to become TD SYNNEX, a Leading Global Distributor and Solutions Aggregator for
the IT Ecosystem
TD SYNNEX will serve more than 100 countries in the Americas, Europe and Asia-Pacific
with a comprehensive portfolio of high value products and service offerings
FREMONT, CA, and CLEARWATER, FL, September
1, 2021 -
SYNNEX Corporation (NYSE: SNX) and Tech Data Corporation today announced the
successful completion of their merger. The combined company is now TD SYNNEX, led by Rich Hume as CEO. Dennis Polk, formerly the CEO of SYNNEX, is Executive Chair of the TD SYNNEX Board of Directors.
"TD SYNNEX is uniquely positioned in today's relentlessly transforming technology ecosystem", said Rich Hume, TD SYNNEX CEO. "As a versatile
distributor and solutions aggregator for the IT ecosystem, we're strengthening our entire portfolio of solutions and raising the bar on the value we deliver to customers and vendors with exceptional reach, efficiency and expertise. It's an
honor to lead TD SYNNEX with a talented team of 22,000
co-workers
worldwide".
"We are pleased to have completed
the merger and are focused on integrating our businesses", said Dennis Polk, TD SYNNEX Executive Chair of the Board of Directors. "We are energized by the enhanced breadth and depth of our offerings and the opportunities ahead of us to
deliver superior value to our stakeholders".
Together, customers and vendors will have unparalleled access to a global distribution platform with
best-in-class
product offerings in some of the largest and most profitable product segments. TD SYNNEX provides the ability to accelerate technology adoption, diversify
revenue streams, create cross-selling opportunities and bring to market comprehensive everything as a service offerings.
As part of the merger, Hume underscored TD
SYNNEX' commitment to be a good corporate citizen and the employer of choice in the global IT industry, "Just as TD SYNNEX plays a vital role helping transform the technology landscape, we have an equally important responsibility to have a
positive impact on the world. Our focus on corporate social responsibility embodies our commitment to make the world a better place, both today and into the future".
Tech Data Corporation was previously wholly owned by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (the "Apollo Funds") and their
co-investors.
Under the terms of the merger agreement, Apollo Funds received an aggregate 44 million shares of common stock, net $1.1 billion in cash after giving effect to a $500 million equity
contribution by Apollo and the refinancing of Tech Data net debt, and now own approximately 45 percent of TD SYNNEX.
Safe Harbor Statement
Statements in this news release that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934 involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to
be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this
release.
About TD SYNNEX
TD SYNNEX (NYSE: SNX) is a leading global
distributor and solutions aggregator for the IT ecosystem. We're an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth
opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX' 22,000
co-workers
are dedicated to uniting compelling IT products, services and solutions from 1,500+
best-in-class
technology vendors. Our
edge-to-cloud
portfolio is anchored in some of the
highest-growth technology segments including cloud, cybersecurity, big data/analytics, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people
and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit
www.TDSYNNEX.com
or follow us on Twitter, LinkedIn, Facebook and Instagram.
# # #
Contacts
Liz Morali
Investor Relations
(510)
668-8436
ir@synnex.com
Bobby Eagle
Global Corporate Communications
(727)
538-5864
bobby.eagle@techdata.com

EX - 99 . 1 7 d213822dex991 . htm EX - 99 . 1 EX - 99 . 1 Exhibit 99 . 1 SYNNEX and Tech Data Complete Merger to become TD SYNNEX , a Leading Global Distributor and Solutions Aggregator for the IT Ecosystem TD SYNNEX will serve more than 100 countries in the Americas , Europe and Asia - Pacific with a comprehensive portfolio of high value products and service offerings FREMONT , CA , and CLEARWATER , FL , September 1 , 2021 - SYNNEX Corporation ( NYSE : SNX ) and Tech Data Corporation today announced the successful completion of their merger . The combined company is now TD SYNNEX , led by Rich Hume as CEO . Dennis Polk , formerly the CEO of SYNNEX , is Executive Chair of the TD SYNNEX Board of Directors . " TD SYNNEX is uniquely positioned in today 's relentlessly transforming technology ecosystem " , said Rich Hume , TD SYNNEX CEO . " As a versatile distributor and solutions aggregator for the IT ecosystem , we ' re strengthening our entire portfolio of solutions and raising the bar on the value we deliver to customers and vendors with exceptional reach , efficiency and expertise . It ' s an honor to lead TD SYNNEX with a talented team of 22,000 co - workers worldwide " . " We are pleased to have completed the merger and are focused on integrating our businesses " , said Dennis Polk , TD SYNNEX Executive Chair of the Board of Directors . " We are energized by the enhanced breadth and depth of our offerings and the opportunities ahead of us to deliver superior value to our stakeholders " . Together , customers and vendors will have unparalleled access to a global distribution platform with best - in - class product offerings in some of the largest and most profitable product segments . TD SYNNEX provides the ability to accelerate technology adoption , diversify revenue streams , create cross - selling opportunities and bring to market comprehensive everything as a service offerings . As part of the merger , Hume underscored TD SYNNEX ' commitment to be a good corporate citizen and the employer of choice in the global IT industry , " Just as TD SYNNEX plays a vital role helping transform the technology landscape , we have an equally important responsibility to have a positive impact on the world . Our focus on corporate social responsibility embodies our commitment to make the world a better place , both today and into the future " . Tech Data Corporation was previously wholly owned by funds managed by affiliates of Apollo Global Management , Inc . ( NYSE : APO ) ( the " Apollo Funds " ) and their co - investors . Under the terms of the merger agreement , Apollo Funds received an aggregate 44 million shares of common stock , net $ 1.1 billion in cash after giving effect to a $ 500 million equity contribution by Apollo and the refinancing of Tech Data net debt , and now own approximately 45 percent of TD SYNNEX . Safe Harbor Statement Statements in this news release that are " forward - looking statements " within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 involve known and unknown risks and uncertainties which may cause the Company 's actual results in future periods to be materially different from any future performance that may be suggested in this release . The Company assumes no obligation to update any forward - looking statements contained in this release . About TD SYNNEX TD SYNNEX ( NYSE : SNX ) is a leading global distributor and solutions aggregator for the IT ecosystem . We ' re an innovative partner helping more than 150,000 customers in 100 + countries to maximize the value of technology investments , demonstrate business outcomes and unlock growth opportunities . Headquartered in Clearwater , Florida , and Fremont , California , TD SYNNEX ' 22,000 co - workers are dedicated to uniting compelling IT products , services and solutions from 1,500 + best - in - class technology vendors . Our edge - to - cloud portfolio is anchored in some of the highest - growth technology segments including cloud , cybersecurity , big data / analytics , IoT , mobility and everything as a service . TD SYNNEX is committed to serving customers and communities , and we believe we can have a positive impact on our people and our planet , intentionally acting as a respected corporate citizen . We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem . For more information , visit www.TDSYNNEX.com or follow us on Twitter , LinkedIn , Facebook and Instagram . # # # Contacts Liz Morali Investor Relations ( 510 ) 668 - 8436 ir@synnex.com Bobby Eagle Global Corporate Communications ( 727 ) 538 - 5864 bobby.eagle@techdata.com
O O O O O O O O O O O O O O O O O O O O O O O B-Parties.BUYING_COMPANY O B-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O B-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O