The overlap isn’t as significant as one might think”. Hume said the customer sets were “quite complementary. On the other hand, Synnex is well-established in Japan but Tech Data is not. Europe is one of the areas where Tech Data is already well-established but Synnex has a more limited presence. The merger presented new market opportunities for both companies, he added. Hume said the combined business would have a global footprint serving more than 100 countries with more than 200,000 products and solutions. Hume and Polk claimed the merger was very complementary in terms of geographical locations, vendors, partners and services. “Even with a well-planned and executed strategy, I’m not sure we could have achieved over time all that is accomplished with this merger,” he claimed, adding the deal was a significant opportunity to grow faster than market rates. Speaking about the merger in a conference call, Polk said it accelerated the distributor’s growth initiatives “by multiple years” compared to what it could have done by acquiring several smaller geographically diverse companies. Tech Data boss Rich Hume will become CEO of the combined operation while his counterpart at Synnex, Dennis Polk, will assume the role of executive chair of the board of directors.
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