Region’s largest public company to be acquired for $5.4B

Private equity firm Apollo Global Management agrees to buy Clearwater-based Tech Data.

By Business Observer Staff
| 9:20 a.m. November 13, 2019
| 0 Free Articles Remaining!

File. Rich Hume is expected to remain CEO of Tech Data Corp., which is set to be acquired by a private equity firm for $5.4 billion.

Tampa Bay-Lakeland

CLEARWATER — Tech Data Corp. (NASDAQ: TECD) has agreed to be acquired, for $5.4 billion, by an affiliate of funds managed by New York-based private equity firm Apollo Global Management Inc.

With nearly $33.6 billion in gross revenue in 2018 — up from $24.19 billion in 2017 — Clearwater-based Tech Data, a distributor of IT products, is the region's largest public company, by revenue. It’s second only to Lakeland-based, privately held Publix Super Markets Inc., in terms of gross annual revenue.