Tuesday, January 16, 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.

Comments
Raymond James advice for small to mid-sized companies about activist shareholders? Prepare and listen

Raymond James advice for small to mid-sized companies about activist shareholders? Prepare and listen

Shareholder fights between activist investors and publicly traded companies are getting nastier, especially in some industries, and a lot of them don’t involve corporate giants like General Motors and Procter & Gamble.In 2015, according to Raymond Ja...
Updated: 1 hour ago
Dow bursts through 26,000 in record seven trading days

Dow bursts through 26,000 in record seven trading days

The Dow Jones industrial average blew past 26,000 Tuesday for the first time ever, coming only a week after hitting 25,000 and showing further evidence that the long-running bull market is alive and well."There are several reasons for markets to melt...
Updated: 1 hour ago
Italian Butterfingers? Nestle selling candy business for $2.9B

Italian Butterfingers? Nestle selling candy business for $2.9B

Associated PressNEW YORK — Swiss food and drink giant Nestle is selling its U.S. candy business to Italy’s Ferrero for about $2.9 billion in cash. Ferrero will take over iconic chocolate brands Butterfinger and Crunch bars, as well as the sugary Ner...
Updated: 2 hours ago
Pinellas is at the center of a rise in Florida flu outbreaks

Pinellas is at the center of a rise in Florida flu outbreaks

By JUSTINE GRIFFINTimes Staff Writer Feeling a little sniffly or scratchy or stuffed up? It may be the flu, and you don’t want to wait around to see a doctor this year. This is not the time to write off flu-like symptoms, Tampa Bay area health offici...
Updated: 2 hours ago
Arizona-based AFI Mortgage opens St. Petersburg branch

Arizona-based AFI Mortgage opens St. Petersburg branch

Times StaffAFI Mortgage, a subsidiary of an Arizona-based bank, is opening its first Florida locations in St. Petersburg and Lakeland. Its parent company, AmeriFirst Financial Inc., specializes in mortgages. "This Florida team is innovative, knowledg...
Updated: 5 hours ago
St. Petersburg’s apartment boom is spreading west

St. Petersburg’s apartment boom is spreading west

By SUSAN TAYLOR MARTINTimes Senior CorrespondentST. PETERSBURG — Still more apartments are coming to St. Petersburg, this time to the Edge and Grand Central Districts just west of downtown.The new projects, all by out-of-state developers, will add mo...
Updated: 5 hours ago
Some fear Spa Beach billowing net sculpture could catch birds and storms

Some fear Spa Beach billowing net sculpture could catch birds and storms

By WAVENEY ANN MOORETimes Staff WriterST. PETERSBURG — International artist Janet Echelman may have fulfilled her $75,000 feasibility contract with the city and previewed her billowing, parasol-inspired sculpture for Spa Beach, but for some, key ques...
Updated: 7 hours ago
Pasco plans industrial site on utility property

Pasco plans industrial site on utility property

DADE CITY – Commissioner Jack Mariano remembers the message from economist William Fruth.Just seven months after Mariano joined the commission in 2004, Fruth, of Palm City, told the county’s elected and appointed officials that Pasco should explore d...
Published: 01/16/18
Help wanted: Seminole Hard Rock in Tampa has 250 jobs to fill

Help wanted: Seminole Hard Rock in Tampa has 250 jobs to fill

TAMPA — Seminole Hard Rock Hotel & Casino is holding a hiring event next week to fill more than 250 positions. The event will take place in the Hard Rock Cafe from 9 a.m. to 1 p.m. Jan. 24. Available positions include culinary, beverage, hotel, spa, ...
Published: 01/16/18
Modern game room fosters family approach

Modern game room fosters family approach

SPRING HILL – While no board games are evident at NeverBoard Gaming Community, the strategy and competitiveness of game playing are in full force, with the latest digital hardware modernizing the pursuit.The NeverBoard shop, a venue for video gaming ...
Published: 01/16/18