Tech Data to invest about US$750m to accelerate digital transformation

KUALA LUMPUR, July 1 — With its acquisition by funds managed by affiliates of Apollo Global Management now complete, Tech Data plans to invest approximately US$750 million in digital transformation initiatives over the next five years. (US$1 = RM4.28)

The investment will power Tech Data’s strategy to accelerate innovation for improved experiences and greater agility for businesses across the technology ecosystem.

Tech Data’s digital transformation initiatives are focused on delivering state-of-the-art automation, platforms and analytics that will allow the company to be more agile and responsive to the rapidly evolving needs of its channel partners.

The programme includes building a hyper-scalable digital business platform and cloud-based digital marketplace, designed to support Tech Data’s ambitious growth plans and serve emerging technology markets and consumption models.

“Tech Data’s acquisition by the Apollo funds is a significant milestone, and their support of our multi-year commitment of resources underscores our collective focus on long-term value creation,” said Tech Data chief executive officer, Rich Hume in a statement.

“We believe Apollo will be an invaluable partner in helping us better enable our channel partners to bring to market the technology products and solutions the world needs to connect, grow and advance.” — Bernama

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