CLEARWATER, Fla., May 27, 2015 (GLOBE NEWSWIRE) -- Tech Data Corporation (Nasdaq:TECD) today announced it has entered into an agreement to acquire certain assets of Signature Technology Group, Inc. ("STG"), a leading provider of data center and professional services throughout North America. STG's services will be offered through Tech Data's Advanced Infrastructure Solutions (AIS) division, the company's data center business in the Americas. The transaction is expected to close in early June 2015.
"We are proud to welcome STG and its employees to the Tech Data family," said Joe Quaglia, president, the Americas at Tech Data. "The addition of STG strengthens our data center offering, further diversifies our services portfolio, and—most importantly—provides added value for our customers. STG has trusted relationships with some of Tech Data's most strategic channel partners and their commitment to superior customer service and focused execution is aligned with our own. We look forward to the many opportunities ahead for our combined team."
STG's data center services enable solution providers across all verticals to maximize their clients' technology investments, strategically improve service levels, reduce risk, and contain costs. STG offers partner-led IT professional services that deploy technology physically and virtually, cloud assessments and migrations, and technical staffing to ensure that IT departments have skilled resources and coverage. The STG team holds certifications across 23 original equipment manufacturers (OEMs) and its technicians, deployed in customers' IT environments, support over 300,000 devices throughout North America.
"IDC has predicted that over the next two years, more than 60% of companies will stop managing their IT infrastructure and rely on qualified service partners to boost efficiency and provide value," said Chuck Bartlett, senior vice president, AIS at Tech Data. "STG will complement our AIS offering, giving our solution providers an extension of their business and service levels for their end users. Their specialized, expert skillset in the data center will help provide enhanced support for our field organization, better equipping our solution providers to effectively serve complex data center environments."
Founded in Phoenix, Ariz. in 1990, STG was named to the Inc. 5000 Fastest Growing Private Companies List in 2014, the CRN Fast Growth 150 in 2013, and the CRN Fast Growth 100 in 2012.
"STG's commitment to providing legendary service, as well as our shared values of integrity, innovation, collaboration, and responsibility, align perfectly with Tech Data's commitment to its channel partners, employees, and communities," said Charles Layne, president and chief executive officer at STG. "The data center is a strategic priority for Tech Data, and we are excited to join one of the world's largest, most respected IT distributors and continue to grow together."
Layne, along with the entire STG team, will join Tech Data. Layne will assume the role of president, Signature Technology Group at Tech Data and report directly to Bartlett in the company's AIS division.
The matters discussed herein may contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from expectations. Certain of these risks are set forth in the company's periodic filings with the Securities and Exchange Commission, including the company's most recent Form 10-K and Form 10-Q, copies of which can be obtained at the company's Investor Relations website at www.techdata.com.
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 $27.7 billion in net sales for the fiscal year ended January 31, 2015. 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.
Jeffery P. Howells, Executive Vice President and Chief Financial Officer
Arleen Quiñones, Vice President, Investor Relations and Corporate Communications
Amanda Lee, Public Relations Manager
Source:Tech Data Corporation