Synnex and Tech Information’s $7.2B merger spawns an IT options behemoth

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(Reuters) — IT options agency Synnex mentioned on Monday that it’s going to merge with peer Tech Data, owned by funds affiliated to Apollo International Administration, in a deal value about $7.2 billion, together with debt.

Shares of Synnex jumped over 11% in premarket commerce.

Apollo Funds will obtain 44 million shares of Synnex frequent inventory and the refinancing of present Tech Information web debt and redeemable most well-liked shares of about $2.7 billion.

Upon closing of the deal, anticipated within the second half of 2021, Synnex shareholders will personal about 55% of the mixed firm, whereas Apollo Funds will personal about 45%.

Tech Information was taken non-public by Apollo International Administration in 2020 in a deal valued at about $6 billion.

Synnex earlier separated into two publicly listed corporations, Synnex Expertise Options and Concentrix.


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