SINGAPORE--(BUSINESS WIRE)--Tech Data (Nasdaq: TECD) today announced that Inflow Technologies has exercised its right to withdraw from closing its acquisition by Tech Data. As a result, Inflow has paid a break fee to Tech Data, as outlined in the original acquisition agreement, which was announced on Dec. 16, 2019.
“We respect Inflow’s decision to go in a different direction,” said Jaideep Malhotra, President, Asia Pacific, at Tech Data. “Tech Data is committed to our strategy of delivering higher value by strengthening our end-to-end portfolio and optimizing our global footprint, and we continue to explore opportunities to grow our business in alignment with this strategy.”
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Tech Data connects the world with the power of technology. Our end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow and advance. Tech Data is ranked No. 88 on the Fortune 500® and has been named one of Fortune’s World’s Most Admired Companies for 11 straight years. To find out more, visit www.techdata.com or follow us on Twitter, LinkedIn, Facebook and Instagram.
