CLEARWATER, FLA. (AP) - Tech Data Corp. said Tuesday that it is acquiring Triade Holding, a privately held company based in the Netherlands, to accelerate the company’s entry into Europe’s consumer electronics market.
Tech Data, which distributes technology products ranging from servers to computers and mouse pads, said the purchase will expand its business in the Netherlands and Denmark. In a related transaction, Tech Data’s joint venture with Brightstar Corp., called Brightstar Europe, will buy Triade’s Mobile Communications Co. unit, a mobility specialist that serves the Belgium, Netherlands and Luxembourg region.
The deals’ total enterprise value, including assumed debt, is worth about $189 million. Some 45 percent of that relates to Mobile Communications. The deals are subject to regulatory approval and should be completed in the third quarter of fiscal 2011.
For the year ended Jan. 31, Triade had sales of about $1.2 billion. Over the same period, Tech Data booked $22.1 billion in revenue.
Shares of Tech Data fell 31 cents to close at $40.35 on Tuesday.
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