Tech Data expands in Asia with new purchase
September 1, 2020 - Tech Data, an IT distributor in Clearwater, has a definitive agreement to acquire Innovix Distribution, a Hong Kong-based IT distributor in Asia. The purchase will expand Tech Data's business in Hong Kong, Malaysia and Singapore, and will accelerate Tech Data's growth in next-generation technologies, including cloud and security products. Tech Data is one of the largest companies headquartered in the Tampa-St. Petersburg area and the acquisition is a key milestone because it is the first major deal since Tech Data was acquired by funds managed by Apollo Global and became a privately owned company. Financial terms were not disclosed. The deal is expected to close before the end of October. Innovix, with more than 500 employees, currently is a part of Jardine Matheson Group, a Fortune Global 500-listed company, and has a distribution network that spans more than 8,000 channel partners in Asia.