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The tie-up between Tech Data and Synnex has been completed, giving the global distributor the chance to unveil both its fresh branding and outline the management team.
The combined company will go by the name of TD Synnex and will be led by Tech Data CEO Rich Hume, with former Synnex boss Dennis Polk becoming executive chairman of the board of directors.
The two channel players entered into a definitive $7.2bn merger agreement back in March that will create a combined operation with revenues in the region of $57bn and a headcount of around 22,000.
Under the terms of the deal, Tech Data’s owner, Apollo, has taken ownership of 45% of the combined entity. Back in the spring, the plan was revealed to take advantage of net optimisation and synergy benefits of $100m in the first year after closing the deal, with a minimum of $200m by the end of the second year.
“TD Synnex is uniquely positioned in today’s relentlessly transforming technology ecosystem,” said Hume. “As a versatile distributor and solutions aggregator for the IT ecosystem, we’re strengthening our entire portfolio of solutions and are raising the bar on the value we deliver to customers and vendors with exceptional reach, efficiency and expertise. It’s an honour to lead TD Synnex with a talented team of 22,000 co-workers worldwide.”
Hume added that the commitment both firms had shown on the sustainability front remained a key focus post-merger: “Just as TD Synnex plays a vital role in helping transform the technology landscape, we have an equally important responsibility to have a positive impact on the world,” he said. “Our focus on corporate social responsibility embodies our commitment to make the world a better place, both today and into the future.”
Hume has been following a strategy of taking Tech Data into emerging technology areas, including the internet of things, data analytics and developing its cloud capabilities, and that strategy is unlikely to change with him remaining as CEO of the merged company.
Polk said the focus was on integrating the business now that the merger had been completed. “We are energised by the enhanced breadth and depth of our offerings and the opportunities ahead of us to deliver superior value to our stakeholders,” he said.
Polk will take charge of a board of directors that includes a mixture of executives from both firms (see box below) and will look to maximise the benefits of the tie-up.
Hume added: “This slate of directors brings together a best-in-class roster of high-calibre individuals with a wealth of knowledge and diverse perspectives which will be invaluable to us. They join us at an exciting time, as we look to execute on our strategic priorities as a combined company and elevate the value we provide to our customers, vendor partners, shareholders and co-workers.”
A mixed board
The company’s board of directors comprises the following members:
Joining from the Tech Data board:
- Matthew Nord
- Nayaki Nayyar
- Rich Hume
- Rob Kalsow-Ramos
Joining from the Synnex board:
- Ann Vezina
- Dennis Polk
- Duane Zitzner
- Fred Breidenbach
- Hau Lee
- Matthew Miau