CLEARWATER, Fla., July 14, 2010 (GLOBE NEWSWIRE) -- Tech Data Corporation (Nasdaq:TECD), a leading distributor of IT products, today announced that it has entered into an agreement to acquire certain assets of Portuguese distributor DLI - Distribuicao e Logistica para Informatica, S.A., including inventory, certain receivables, key personnel and its customer list. The transaction is subject to regulatory approval and is expected to be completed in the third quarter of 2010.
The intended acquisition of DLI marks another step in the execution of Tech Data's strategy of diversifying its product and customer portfolios, while efficiently leveraging its infrastructure. With DLI, Tech Data will expand its presence in Portugal, enhance its vendor portfolio, extend its customer reach, and add a team of highly trained and experienced individuals with specialist knowledge in specific product and customer segments.
DLI generated EUR 124 million (approximately $157 million) of revenue in 2009 and is an established IT distributor with a varied vendor portfolio, serving customers predominantly in the Portuguese corporate and retail sectors.
"The acquisition of DLI is yet another example of our strategy to extend our product portfolio to a broader base of customers, while capitalizing on the excellent opportunities that exist in today's market environment," said Robert M. Dutkowsky, Tech Data's chief executive officer. "Through the use of our strong balance sheet and existing infrastructure, we are making strategic investments that accelerate growth, add scale and strength to our operations, reinforce our position as Europe's pre-eminent IT distributor, and ultimately enhance shareholders' value."
Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements, based on the company's current expectations that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include the following: downturns in the global economy; intense competition both domestically and internationally; narrow profit margins; dependence on information systems; potential adverse effects of acquisitions; exposure to natural disasters, war and terrorism; dependence on independent shipping companies; the impact of increases in freight and handling fees charged to customers; potential impact of labor strikes; risk of declines in inventory value; product supply and availability; changes in vendor terms and conditions; loss of significant customers; credit exposure due to the deterioration in the financial condition of our customers; the inability to obtain required capital; fluctuations in interest rates; foreign currency exchange risks and exposure to foreign markets; the impact of changes in income tax and other regulatory legislation; changes in accounting rules; and the volatility of common stock. Additional discussion of these and other factors affecting the company's business and prospects is contained in the company's periodic filings with the Securities and Exchange Commission, copies of which can be obtained at the company's Investor Relations website at www.techdata.com. All information in this release is as of July 14, 2010. The company undertakes no duty to update any forward-looking statements herein to actual results or changes in the company's expectations.
About Tech Data
Tech Data Corporation (Nasdaq:TECD) is one of the world's largest distributors of technology products from leading IT hardware and software producers. Tech Data serves more than 125,000 IT solution providers in over 100 countries. Every day, these value-added resellers depend on Tech Data to cost-effectively support the technology needs of end users, including small and medium businesses (SMB), large enterprises and government agencies. Ranked 109th on the FORTUNE 500(R), Tech Data generated $22.1 billion in net sales for its fiscal year ended January 31, 2010. To learn more, visit www.techdata.com.