Tech Data has received a $5 billion takeover bid from private equity firm Apollo Global Management, Reuters reported Tuesday evening.
Updated November 13, 2019: Apollo has now announced a $5.4 billion Tech Data Buyout
Original October 15, 2019 Story: The October bid comes roughly one year after Apollo attempted (but failed) to acquire Tech Data rival Ingram Micro from HNA Group. (For its part, Ingram also remains the topic of takeover rumors.)
Apollo Global Management has extensive private equity experience in and around the technology sector -- particularly as it pertains to MSPs (managed IT services providers) and IT consulting firms. The firm has owned cloud MSP Rackspace since 2016, and has also backed Presidio in the midmarket IT solutions provider sector.
Tech Data's stock is trading near all-time highs amid the SMB technology spending boom, Reuters notes. Apollo declined to comment, while Tech Data did not respond to a request for comment, Reuters added.
