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CEO Rich Hume: 10 Boldest Statements On Synnex-Tech Data Merger
Steven Burke
Tech Data CEO Rich Hume says the blockbuster Synnex-Tech Data merger will bring benefits for decades to come to both partners and vendors based on the combined company’s ability to invest in future technologies.
A Seminal Moment For IT Industry
Tech Data CEO Rich Hume Monday said the blockbuster Synnex Tech Data merger is a “seminal moment” that will ultimately bring big benefits to partners and vendors for decades to come.
“I‘ve been in this industry for 37 years and I can count on one hand the meaningful moments that that were really game changing,” said Hume, who will lead the combined new company. “For me personally this is one of those meaningful moments that I believe will will drive pretty substantive change for our joint companies, as well as our customers and vendors.”
Hume said the deal opens the door for the combined company to invest heavily in next generation technologies.”I think partners are ultimately going to say the combined company helped them to reposition their business by driving productivity through digital transformation and automation on their behalf,” he sdaid. “That is going to allow their businesses to be more productive and successful. It will be a lift for the entire segment relative to us assisting in positioning them for the future.”
The blockbuster Tech Data Synnex merger creates a $57 billion giant with more than 150,000 customers and 22,000 employees. Synnex and Tech Data will overtake Ingram Micro as the world’s largest IT distributor, coming in nearly $10 billion larger than Irvine, Calif.-based Ingram Micro, which had $47.2 billion in sales in 2019.
The proposed $7.2 billion merger of publicly traded Synnex and private equity owned Tech Data will result in the combined company being 55 percent owned by Synnex shareholders and 45 percent owned by Apollo Global management, which bought Tech Data for $5.4 billion in June 2020
