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Tech Data Corp (TECD.O)

TECD.O on Nasdaq

87.31USD
23 Sep 2016
Change (% chg)

$-1.19 (-1.34%)
Prev Close
$88.50
Open
$87.77
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$88.64
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$87.26
Volume
642,221
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517,142
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$88.70
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Latest Key Developments (Source: Significant Developments)

Tech Data Corp to acquire Technology Solutions Business from Avnet for $2.6 Bln
Monday, 19 Sep 2016 07:00am EDT 

Tech Data Corp : Tech Data Corporation to acquire Technology Solutions Business from Avnet for $2.6 billion . Tech Data also expects to realize approximately $200 million in present value of tax benefits . Tech Data expects to achieve annual cost savings of approximately $100 million within two years after closing . Intends to finance cash portion of consideration through combination of cash on hand, drawings under existing revolver, proceeds from a new loan facility and senior notes . Transaction is expected to close in first half of calendar 2017 . Deal for for $2.4 billion in cash and 2.785 million shares of Tech Data common stock . Transaction is expected to be significantly accretive to Tech Data's non-GAAP earnings per share in first year after closing . To finance deal cash portion through cash, drawings under revolver, proceeds from new term loan facility, senior notes .BofA Merrill Lynch is serving as lead financial advisor and Raymond James and associates is also serving as financial advisor to Tech Data.  Full Article

Tech Data Q3 earnings per share view $1.38
Thursday, 25 Aug 2016 06:00am EDT 

Tech Data Corp : Tech Data Corporation reports second quarter fiscal year 2017 results . Q2 non-GAAP earnings per share $1.42 . Q2 earnings per share $1.31 . Q2 sales $6.4 billion versus I/B/E/S view $6.64 billion . Q2 earnings per share view $1.43 -- Thomson Reuters I/B/E/S . Sees Q3 2017 non-GAAP earnings per share $1.20 to $1.30 . Sees Q3 2017 sales $6.25 billion to $6.45 billion .Q3 earnings per share view $1.38, revenue view $6.55 billion -- Thomson Reuters I/B/E/S.  Full Article

Tech Data Corp reports Q1 earnings per share $0.94
Thursday, 26 May 2016 06:00am EDT 

Tech Data Corp : Q1 non-GAAP earnings per share $1.05 . Q1 earnings per share $0.94 . Q1 sales $6.0 billion versus i/b/e/s view $6 billion . Q1 earnings per share view $0.94 -- Thomson Reuters I/B/E/S . Sees Q2 2017 non-gaap earnings per share $1.39 to $1.49 . Sees Q2 2017 sales $6.55 billion to $6.75 billion .Q2 earnings per share view $1.35, revenue view $6.38 billion -- Thomson Reuters I/B/E/S.  Full Article

Tech Data Corp gives Q1 2016 guidance
Thursday, 3 Mar 2016 06:00am EST 

Tech Data Corp:Expects Q1 2016 worldwide net sales to be in the range of $5.85 billion to $6.05 billion.Expects Q1 2016 non-GAAP earnings per diluted share to be in the range of $0.90 to $0.98.  Full Article

Tech Data Corp gives Q4 2016 net sales outlook
Tuesday, 24 Nov 2015 06:00am EST 

Tech Data Corp:Anticipates Q4 2016 net sales to be in the range of $7.05 billion to $7.25 billion.Says this assumes year-over-year constant currency sales growth of mid-single digits in both regions.Says this outlook excludes about $78 million of sales from the previous year's fourth quarter, due to the Company's exit from Chile, Peru and Uruguay.  Full Article

Sphere 3D Corp and Tech Data Expand Strategic Agreement to Offer Cloud and Hybrid Cloud Data Management Services
Thursday, 6 Aug 2015 02:00pm EDT 

Sphere 3D Corp and Tech Data:Expansion of their agreement through Sphere 3D's wholly owned subsidiary, Overland Storage.Agreement allows Sphere 3D's innovative cloud and hybrid cloud solutions to be available for purchase by solution providers from Tech Data's Cloud Solutions Store.New offerings will enable solution providers to offer to end user customers virtualization and data management solutions such as Sphere 3D's SnapCLOUD, a virtual enterprise NAS storage platform.  Full Article

Tech Data Corp to acquire Signature Technology Group, Inc
Wednesday, 27 May 2015 04:00pm EDT 

Tech Data Corp:Enters into an agreement to acquire certain assets of Signature Technology Group, Inc.Says transaction is expected to close in early June.  Full Article

Tech Data Corp announces retirement of Jeffery P. Howells, Chief Financial Officer
Tuesday, 14 Apr 2015 09:00am EDT 

Tech Data Corp:Says Executive Vice President and Chief Financial Officer (CFO) Jeffery P. (eff) Howells has notified company of his intent to retire as CFO effective June 5.He will also retire from company's Board of Directors at expiration of his current term following annual meeting of shareholders in June 2015.  Full Article

Tech Data Corp adds VSN Mobil to mobile solutions and retail offering
Monday, 30 Mar 2015 01:12pm EDT 

Tech Data Corp:Says an agreement with VSN Mobil, Inc. to distribute their products throughout the United States through the company's Mobile Solutions and Retail division.Under the agreement, Tech Data will have the exclusive rights to distribute VSN Mobil's V.360 ° Camera and V.ALRT Smart Button to national retailers, carrier stores, and Apple specialists, as well as select regional and online retailers.Tech Data will also distribute VSN Mobil's upcoming line of unlocked smartphones.  Full Article

Tech Data announces sale of its operations in Chile and Peru
Wednesday, 18 Mar 2015 09:00am EDT 

Tech Data Corp:Announces it has completed the sale of its business operations in Chile and Peru to Ingram Micro.Company also plans to exit its operations in Uruguay.These steps will enable Tech Data to focus its investment and development efforts on expanding its Latin America export business in Miami and its operations in Mexico, a larger and more developed IT market.Company recently appointed industry veteran Eduardo Coronado as managing director, Tech Data Mexico.In this role, Coronado leads the strategic direction of the Company's sales and operations efforts in Mexico.  Full Article

UPDATE 2-Avnet to sell IT business to Tech Data for $2.6 bln

Sept 19 U.S. electrical components distributor Avnet Inc said it would sell its IT business to technology products distributor Tech Data Corp for about $2.6 billion, in a deal that was welcomed by both sets of shareholders.