Synnex will buy Marubeni Infotec stake for $134M

Synnex will buy a controlling interest in Marubeni Infotec Corp., the business process services company said Friday.

Synnex, which sells IT equipment, electronic components and software in Japan, said it will pay $134.3 million, including debt for an 80 percent stake. It said the business has about $1.1 billion in annual revenue and 400 employees, and Synnex. The business will be renamed Synnex Infotec Corp. when the sale is complete. Bob Huang, who founded Synnex and served as chairman and CEO, will be CEO of Synnex Infotec. The company is based in Tokyo.

Synnex Corp. expects the deal to close in early December. It said the purchase will start adding to its profit after about a year.