Tech Data closes Avnet TS buyout and unveils managerial manoeuvres
Patrick Zammit takes European leadership post
Distribution giant Tech Data has completed its $2.6bn (€2.45bn) acquisition of Avnet Technology Solutions (TS) alongside a flurry of new executive appointments to lead the combined entity.
With the deal's completion, Tech Data has announced a series of new appointments who will report to chief operating officer Rich Hume. Patrick Zammit, former president of Avnet TS, has been appointed the European president of the combined organisation. William Chu, Avnet TS's former APAC president takes responsibility for APAC at the joined company while Tech Data's Joe Quaglia maintains his position as president of the Americas. Also coming from the Tech Data side Els Demeester has been appointed vice president of integration, Michael Urban has been assigned vice president of strategy, transformation and global vendor management, and Avnet's Jaideep Malhotra takes the role of president of global computing components.
It is currently unclear whether other former Avnet executives not mentioned in Tech Data's executive line-up have entered new roles. Tech Data's global executive leadership team has meanwhile not seen any changes.
Tech Data first announced plans to acquire the $9.6bn-turnover value-focused datacentre infrastructure, software and services business from Avnet in September last year. The addition will give Tech Data a presence in the APAC region for the first time, and boost its employee count to 14,000 employees with operations across 40 countries globally.
"This is a momentous day in our company's history and we are excited to welcome our talented colleagues at Technology Solutions to the Tech Data family," said Bob Dutkowsky, CEO of Tech Data.
"Our combined company is perfectly positioned at the epicentre of the IT ecosystem — with the scale and scope to serve dynamic markets throughout the world— giving our customers access to an end-to-end portfolio of IT solutions and efficiently bringing our vendors' products to new customers in more markets. Our organisations' common cultures, shared values and commitment to providing a world-class customer experience will serve as the foundation for the new Tech Data. Together, we will be an even stronger company, capable of doing more for our channel partners than ever before. We remain confident that the acquisition of Technology Solutions creates a winning combination for our customers, vendors, and shareholders, as well as the employees of both organisations."
The executive reshuffle comes after news that Tech Data's former European chief Nestor Cano planned to retire once the integration between Tech Data and Avnet TS completed.