CLEARWATER, Fla.--(BUSINESS WIRE)--Tech Data (Nasdaq: TECD) today announced it has entered into an agreement to acquire DLT Solutions, a premier software and cloud solutions aggregator focused on the U.S. public sector. Upon closing of the transaction, DLT will become a wholly owned subsidiary of Tech Data. The acquisition is subject to customary regulatory approvals and is expected to close during Tech Data’s fourth fiscal quarter.
By bringing deeper specialization in the federal, state and local markets, the addition of DLT enables Tech Data to proactively develop opportunities, accelerate growth and simplify complexity for its channel partners that are serving the U.S. public sector space.
"This acquisition reflects our strategy of delivering higher value – strengthening our end-to-end portfolio and accelerating our capabilities in next-generation technologies – and we look forward to welcoming DLT’s colleagues to Tech Data," said Rich Hume, chief executive officer at Tech Data. "The addition also demonstrates how our portfolio optimization actions are freeing up capital, which is enabling us to invest in high-quality growth opportunities that advance our strategy and provide higher-value solution offerings to our partners.”
Headquartered in Herndon, Virginia, DLT is a government solutions aggregator that accelerates public sector growth for business partners that serve the federal, state and local markets. DLT creates value by providing access to a robust network of channel partners and a broad portfolio of more than 50 in-house contract vehicles.
“We are thrilled to join the Tech Data team,” said Art Richer, chief executive officer at DLT Solutions. “This acquisition combines our public sector expertise and capabilities with a leading Fortune 100 company known for creating value across the technology ecosystem. It represents an opportunity to apply our unique public sector value proposition to a broader set of vendors and partners.”
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Tech Data connects the world with the power of technology. Our end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow and advance. Tech Data is ranked No. 88 on the Fortune 500® and has been named one of Fortune’s World’s Most Admired Companies for 10 straight years. To find out more, visit www.techdata.com or follow us on Twitter, LinkedIn, Facebook and Instagram.