September 23, 2019

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Tech Data confirms Scribona deal

by Stuart Wilson, Friday 7 March 2008

Global distribution giant Tech Data has struck a deal to acquire assets from Nordic IT distribution outfit Scribona, which has operations in Sweden, Finland and Norway. Tech Data reckons the deal means it can better serve customers and vendor partners in the Nordic region and also better leverage investments in European IT and logistics infrastructure.

Tech Data will stump up net asset value plus a premium to snap up Scribona assets including inventory, some intellectual property, material contracts and office equipment. The premium will be in the range of US$20m to US$25m, according to a Tech Data statement.

“Through this transaction, Tech Data will gain a talented team of highly experienced distribution employees that will help strengthen our operations and drive stronger relationships with our key vendor partners and customers,” said Robert M. Dutkowsky, CEO at Tech Data. “This combination will provide Tech Data’s new and existing customers access to an extended portfolio of vendor partners including an expanded suite of value-added hardware and software business solutions.”

Fredrik Berglund, President and CEO of Scribona commented: “We announced back in December that we were in discussions with a number of unnamed parties who had indicated an interest in the company. We have been focusing on the operational reorganisation of the company in order to enhance our position in increasingly competitive markets.”

“The combination of the Scribona and Tech Data businesses will create a strong IT industry player with the market reach to develop further. The industrial logic of the combination is compelling and provides the basis for the future development of the Scribona business and marks a new phase in our development. The new entity will be a leading distributor of IT products in the Nordic region and will be able to improve customer satisfaction through increased market focus and deliver sustainable long term growth in an increasingly competitive market environment,” he added.

Scribona posted sales of approximately $1.3 billion for full year 2007. The proposed deal is subject to EU clearance and Scribona shareholder approval. The two companies aim to complete the deal in the second quarter of 2008.

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