Giant US distributor Tech Data has declared its intention to buy up other international distributors, particularly in the UK, as it finally completed the acquisition of Munich-based firm Macrotron.
Tech Data acquired 77 per cent of Macrotron?s voting stock and seven per cent of its non-voting preferred stock for $26 million cash and 406,586 shares of Tech Data common stock, bringing the total value of the transaction to $35 million. Tech Data also has options to purchase an additional 15 per cent of Macrotron?s voting shares. It will begin a tender for the unacquired common and preferred shares between 10 July and 5 September.
Steve Raymund, Tech Data chairman and CEO, said the acquisition was part of the company?s evolving global distribution strategy, to which the purchase of Paris-based Softmart International SA three years ago is also related.
Tech Data bought the firm in 1994 for $22 million. Now the company is turning its attention to the UK as an area for further potential buys.
Macrotron is one of Germany?s largest distributors of PCs and related products, with a Var and dealer base of about 16,000 throughout Germany, Austria and Switzerland.
Infrastructure provider says international sales now make up 51 per cent of its revenue
Suzanne Chappell of TMS plans sailing venture after selling Oxfordshire-based TMS to acquisitive Chess
Withdrawal of credit insurance by some providers a 'reflection' of current challenge facing IT sector, according to MD Steve Soper
SMART's UK managing director joins Lenovo to boost SMB business