CLEARWATER, Fla., March 18, 2015 (GLOBE NEWSWIRE) -- Tech Data Corporation (Nasdaq:TECD) today announced it has completed the sale of its business operations in Chile and Peru to Ingram Micro (NYSE:IM). The 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. The 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.
"After careful consideration, we concluded that exiting these operations was in the best interest of our business and our shareholders," said Robert M. Dutkowsky, chief executive officer, Tech Data Corporation. "Over the course of 16 years of operating in Chile, Peru and Uruguay, it has been difficult to achieve the necessary scale to consistently generate acceptable levels of profit and return on invested capital. As we have said throughout the last year, fiscal 2015 and 2016 are market and operationally-focused years for Tech Data. These moves are consistent with our approach of aligning the resources of the Company with more profitable, higher-growth areas of our business."
About Tech Data
Tech Data Corporation is one of the world's largest wholesale distributors of technology products, services and solutions. Its advanced logistics capabilities and value added services enable 115,000 resellers to efficiently and cost effectively support the diverse technology needs of end users in more than 100 countries. Tech Data generated $26.8 billion in net sales for the fiscal year ended January 31, 2014. It is ranked No. 111 on the Fortune 500® and one of Fortune's "World's Most Admired Companies." To learn more, visit www.techdata.com, or follow us on Facebook and Twitter.
CONTACT: Jeffery P. Howells Executive Vice President and Chief Financial Officer 727-538-7825 (firstname.lastname@example.org) Arleen Quinones Vice President, Investor Relations and Corporate Communications 727-532-8866 (email@example.com)
Source:Tech Data Corporation