Tech Data has entered into an agreement to acquire a technology distributor that will grow Tech Data’s presence across the Asia Pacific region and strengthen its end-to-end solutions capabilities, Innovix Distribution. Tech Data didn’t disclose the conditions of the agreement. The acquisition is expected to close during the third quarter of Tech Data’s fiscal year 2021. The company also stated that Innovix will accelerate Tech Data’s growth in next-generation technologies, including within cloud and security, as well as endpoint offerings across the region.
Hong Kong, Malaysia and Singapore
Innovix is a leading technology distributor in Asia, headquartered in Hong Kong. The acquisition will expand Tech Data’s business in key geographies, including Hong Kong, Malaysia and Singapore. Jaideep Malhotra, president, Asia Pacific, Tech Data said,
“Innovix is a leading regional IT distributor with an expansive range of IT products, solutions and services that will enhance our vendor portfolio, increase our customer base and strengthen our end-to-end solutions capabilities. Innovix’s strong team of 500+ experienced professionals have in-depth local industry knowledge that will augment our expertise in the market and strengthen our ability to deliver higher value to our channel partners across the region. This investment demonstrates our commitment to the Asia Pacific region and is an important, early milestone in our transformational journey since being acquired by Apollo Global Management. The addition of Innovix reinforces our collective focus on growth and diversification, supporting Tech Data’s announced plans to transform our company into one that defines a new standard of operational and cultural excellence in our industry.”