GlobeNewswire
2010-07-14
Agreement Enables Expansion of Product Offerings to a Wider
Customer Base
CLEARWATER, Fla., July 14, 2010 (GLOBE NEWSWIRE) -- Tech Data
Corporation (Nasdaq:TECD), a leading distributor of IT products, today
announced that it has entered into an agreement to acquire certain
assets of Portuguese distributor DLI - Distribuicao e Logistica para
Informatica, S.A., including inventory, certain receivables, key
personnel and its customer list. The transaction is subject to
regulatory approval and is expected to be completed in the third
quarter of 2010.
The intended acquisition of DLI marks another step in the execution of
Tech Data's strategy of diversifying its product and customer
portfolios, while efficiently leveraging its infrastructure. With DLI,
Tech Data will expand its presence in Portugal, enhance its vendor
portfolio, extend its customer reach, and add a team of highly trained
and experienced individuals with specialist knowledge in specific
product and customer segments.
DLI generated EUR 124 million (approximately $157 million) of revenue
in 2009 and is an established IT distributor with a varied vendor
portfolio, serving customers predominantly in the Portuguese corporate
and retail sectors.
"The acquisition of DLI is yet another example of our strategy to
extend our product portfolio to a broader base of customers, while
capitalizing on the excellent opportunities that exist in today's
market environment," said Robert M. Dutkowsky, Tech Data's chief
executive officer. "Through the use of our strong balance sheet and
existing infrastructure, we are making strategic investments that
accelerate growth, add scale and strength to our operations, reinforce
our position as Europe's pre-eminent IT distributor, and ultimately
enhance shareholders' value."
Forward-Looking Statements
Certain matters discussed in this news release are forward-looking
statements, based on the company's current expectations that involve a
number of risks and uncertainties. Factors that could cause actual
results to differ materially include the following: downturns in the
global economy; intense competition both domestically and
internationally; narrow profit margins; dependence on information
systems; potential adverse effects of acquisitions; exposure to natural
disasters, war and terrorism; dependence on independent shipping
companies; the impact of increases in freight and handling fees charged
to customers; potential impact of labor strikes; risk of declines in
inventory value; product supply and availability; changes in vendor
terms and conditions; loss of significant customers; credit exposure
due to the deterioration in the financial condition of our customers;
the inability to obtain required capital; fluctuations in interest
rates; foreign currency exchange risks and exposure to foreign markets;
the impact of changes in income tax and other regulatory legislation;
changes in accounting rules; and the volatility of common stock.
Additional discussion of these and other factors affecting the
company's business and prospects is contained in the company's periodic
filings with the Securities and Exchange Commission, copies of which
can be obtained at the company's Investor Relations website at
www.techdata.com. All information in this release is as of July 14,
2010. The company undertakes no duty to update any forward-looking
statements herein to actual results or changes in the company's
expectations.
About Tech Data
Tech Data Corporation (Nasdaq:TECD) is one of the world's largest
distributors of technology products from leading IT hardware and
software producers. Tech Data serves more than 125,000 IT solution
providers in over 100 countries. Every day, these value-added resellers
depend on Tech Data to cost-effectively support the technology needs of
end users, including small and medium businesses (SMB), large
enterprises and government agencies. Ranked 109th on the FORTUNE
500(R), Tech Data generated $22.1 billion in net sales for its fiscal
year ended January 31, 2010. To learn more, visit www.techdata.com.
CONTACT: Tech Data Corporation
Jeffery P. Howells, Executive Vice President
and Chief Financial Officer
727-538-7825
jeff.howells@techdata.com
Arleen Quinones, Director, Investor Relations
and Shareholder Services
727-532-8866
arleen.quinones@techdata.com