SYNNEX, an American multinational corporation that provides B2B IT services, agreed to acquire Tech Data, an American multinational distribution company specializing in IT products and services, from private equity firm Apollo Global Management for $7.2bn. "We are excited to partner with a world-class industry leader like Tech Data and believe that this combination will benefit all our stakeholders. This transaction allows for accelerated revenue and earnings growth, an expanded global footprint, and the ability to drive significant operating improvements while continuing to create shareholder value. We look forward to working with the talented colleagues at Tech Data and expect our combined business will create the opportunity for team members to produce the highest levels of service to our partners," Dennis Polk, SYNNEX President and CEO. On August 27, 2021, SYNNEX announced the merger received all required regulatory approvals.