=Tech Data (TECD) to be acquired by Apollo (APO) for $130/share

Tech Data enters definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management (APO) for $130/share

Co announced it has entered into a definitive agreement to be acquired by an affiliate of funds managed by affiliates of Apollo Global Management (APO), a global alternative investment manager.

Through the agreement, the affiliate of the Apollo Funds will acquire all of the outstanding shares of Tech Data common stock for $130 per share in a transaction with an enterprise value of approximately $5.4 bln.

Following the close of the transaction, Rich Hume will continue to lead Tech Data as chief executive officer, and the company will continue to be headquartered in Clearwater, Florida. Tech Data will become a privately held company, and Tech Data's common shares will no longer be publicly listed.