Wednesday, August 15, 2018
Business

Tampa Bay's biggest company, Tech Data, gets a whole lot bigger with Avnet acquisition

CLEARWATER — Tampa Bay's largest public company got even bigger today.

Clearwater-based Tech Data Corp. has closed on the acquisition of Avnet's Technology Solutions, a Phoenix-based technology distributor with about 5,000 employees worldwide.

Previous coverage: Clearwater's Tech Data Corp. to buy technology business for $2.6 billion

Absorbing Avnet's business will help Tech Data expand into Asian markets and increase its product offerings, the company said in a statement Monday.

The $2.6 billion deal was announced in September 2016 and could propel Tech Data to overtake Publix Super Markets as Florida's largest company. Avnet and Tech Data's 2015 combined revenue totaled $35 billion. Publix' revenue was $32.4 billion. In total, the company will now have about 14,000 employees.

"We'll be a Fortune 80 (company) now — bigger than American Express," CEO Bob Dutkowsky told the Tampa Bay Times last fall.

Tech Data distributes technology products like smartphones, computer servers and software for giants Apple, HP and IBM.

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