Tech Data agrees to acquire Innovix Distribution
The company hopes to accelerate growth of next-gen tech across the region
Tech Data has announced it has entered into a definitive agreement to acquire Innovix Distribution, in a deal the firm says will help grow its presence across the Asia Pacific region.
The IT distribution giant hopes the addition will accelerate its growth in next-generation tech across the region – including within cloud and security, as well as endpoint services. The move will also expand its presence in key markets such as Hong Kong, Malaysia and Singapore.
Subject to customary closing conditions, the acquisition is expected to close during the third quarter of Tech Data’s 2021 fiscal year.
“Innovix’s strong team of 500+ experienced professionals have in-depth local industry knowledge that will augment our expertise in the market and strengthen our ability to deliver higher value to our channel partners across the region,” commented Jaideep Malhotra, president, Asia Pacific, Tech Data.
Tech Data says the acquisition demonstrates its commitment to the Asia Pacific region, making up an “important, early milestone” in its transformational journey since being acquired by Apollo Global Management.
“The addition of Innovix reinforces our collective focus on growth and diversification, supporting Tech Data’s announced plans to transform our company into one that defines a new standard of operational and cultural excellence in our industry,” Malhotra added.
Headquartered in Hong Kong, Innovix has established itself as a leading technology distributor in Asia with an expansive range of IT solutions and services. Currently a part of the Jardine Matheson Group, the firm boasts an extensive distribution network of more than 8,000 channel partners in the region.
“At Innovix, we are proud to have built a 60-plus-year reputation as a leading IT distributor in the Asia Pacific region,” said Eric van der Hoeven, chief executive officer at Innovix. “Our focus on helping businesses accelerate growth and capitalise on digital transformation is perfectly aligned with Tech Data’s mission to connect the world with the power of technology, and we look forward to working together to serve this market and stay ahead of evolving technologies and consumption models.”
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