With Tech Data’s acquisition by funds managed by affiliates of Apollo Global Management now complete, the outfit announced it will invest approximately $750 million in digital transformation initiatives over the next five years.
The company said cash will “power Tech Data’s strategy to accelerate innovation in ways that will deliver improved experiences and greater agility for businesses across the technology ecosystem”.
Tech Data chief executive officer Rich Hume said: “We continue to execute on our strategy to transform our company into one that defines a new standard of operational and cultural excellence in our industry. 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.”
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 a cloud-based digital marketplace that are designed to support Tech Data’s ambitious growth plans and serve emerging technology markets and consumption models, he said.
Apollo Private Equity Partner Robert Kalsow-Ramo said: “This investment over the next five years helps ensure the company has the resources necessary to launch a bold digital enablement and innovation program that will transform the way it serves channel partners and employees.”