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Tech Data history
Tech Data company history timeline
Founded in Clearwater, FL by Edward C. Raymund in November 1974, Tech Data Corporation marketed data processing supplies for mini and mainframe computers.
The emergence of personal computers (PCs) in 1980 created an exciting new market niche that was wide open for exploitation.
When Steve joined the company in 1981, Tech Data was essentially a reseller of small supplies such as printer ribbons, cables and computer diskettes.
1983 — Becomes first distributor to promote floor planning/leasing in the IT channel
In 1983, Tech Data began to transition from a reseller to full-line national distributor of personal computer products, a transition led by Steven A. Raymund, Edward's son.
Selling to dealers rather than users proved so successful that by the end of fiscal 1984 the company had withdrawn from the end-user market entirely, and its transformation into a wholesale distributor was complete.
1984 — Names Steven A. Raymund Chief Operating Officer of Tech Data
1985 — Establishes a credit group and third-party financing.
In 1986, Tech Data offered its stock to the public for the first time, entering the market at $9.75 a share.
Through an initial public stock offering in 1986, Tech Data raised needed investor capital to expand operations.
Steve A. Raymund succeeded Edward C. Raymund as Chief Executive Officer in 1986, the same year Tech Data announced its initial public stock offering on NASDAQ (ticker symbol: TECD).
Sales nearly doubled in 1987, reaching $72 million.
By the end of fiscal 1989, the company's coast-to-coast network of ten distribution centers was in place, and its work force had grown to 430.
In 1989, the company acquired a Canadian distributor and increased geographic coverage to all of North America.
1991 — Publishes first online catalog, Tech Data Online.
1991 — Names Steven A. Raymund Chairman of the Board of Directors.
1991 — Recognized by FORTUNE magazine as one of America's fastest growing companies.
By 1992, the company had about 25,000 customers, 70 percent of which were value-added resellers.
For fiscal 1992, revenues at Tech Data rose to $647 million.
In January 1993, Tech Data made an important breakthrough when it received authorization to begin selling certain Microsoft system and application software products to value-added resellers.
For fiscal 1993, Tech Data's sales increased 57 percent to $1.53 billion.
1993: Microsoft, Apple, and IBM products are added; an export division is established in Miami.
In January 1994, Tech Data completed the acquisition of Software Resource Inc., a software distributor based in Novato, California.
Doyle, T.C., and John Longwell, "Tech Data to Expand Reach via Software-Signing Spree," Computer Reseller News , February 14, 1994.
The list of software companies represented in Tech Data warehouses grew in 1994 with the inclusion of Lotus, Aldus, and Computer Associates.
Revenues exceeded $2 billion in 1994.
1995 — Implements private label delivery (PLD) on its products; first distributor to implement online access for product searching and order inquiry.
The workforce was growing rapidly, exceeding 2,600 employees by 1996.
By 1997, it was reporting record profits and annual revenues of $4.6 billion, and its stock price was twice pre-crash levels.
In 1997 the company started operations in Brazil through TD Brasil.
1997 — Opens its first distribution center in Latin America.
1998 — Introduces first Electronic Software Distribution (ESD) initiative, and first factory-direct services in company's history.
Campbell, Scott, "Steve Raymund," Computer Reseller News , November 10, 1999.
Globelle Corporation was added in 1999, doubling the size of Tech Data's Canadian business north of the border.
And in 1999 Tech Data established subsidiaries in Argentina, Chile, Perú and Uruguay.
Computer 2000 had operations in more than 30 countries, some (in the Middle East and South America) new to Tech Data, but its own expansion quest had failed after heavy losses after it bought United States distributor AmeriQuest Technologies.
Sales were about $20 billion in 2000.
The company acquires control of leading European distributor Computer 2000.
In its most recent fiscal year, which ended January 31, 2001, Tech Data generated sales of $20.4 billion.
Revenues slipped to $15.7 billion for the fiscal year ended January 31, 2003.
In March 2003, Tech Data bought Europe's Azlan Group, a distributor of networking products, for $227 million.
Nevertheless, Tech Data's sales again approached $20 billion in the fiscal year ended January 31, 2005.
2005 — Opens facility in Mexico.
2006 — Names Robert M. Dutkowsky Chief Executive Officer.
2007 — Forms joint venture (JV) with Brightstar Corp. to create pan-European organization Brightstar Europe Limited, designed to capitalize on the fast-growing mobile distribution market in Europe.
2007 — Acquires certain assets of Actebis AG Switzerland.
2007 — Opens SMB sales operations center in Costa Rica.
2008 — Acquires Nordics-based IT distributor Scribona, making Tech Data the region's market leader.
2009 — Enters the German mobile handset market with the opening of Brightstar Europe office in Munich; Brightstar Europe mobility JV ships one millionth handset.
2010 — Brightstar Europe mobility JV expands operations into France and Benelux and adds product lines in Germany, UK, and Spain.
2010 — Acquires Netherlands-based Triade Holding B.V., accelerating the company's European consumer technology and mobility businesses.
2011 — Celebrates 25th year as a public company with then-record sales of more than $24 billion, record net income, and record earnings per share.
2011 — Introduces accessTD mobile platform, enabling United States resellers to access Tech Data's inventory of products at any time from their mobile devices
2012 — Launches the Solutions Store in the United States, the channel's first application storefront, earning Tech Data a No.
2013 — Expands relationship with IBM to offer IBM's full portfolio of products and services in the United States, including Power Systems and enterprise-class storage.
2013 — Acquires full ownership of Brightstar Corp's 50% ownership in TDMobility.
In 2013, Tech Data lost out in nearly 27 million euros in profit following an accounting error by their former financial comptroller.
2014 — Celebrates 40th anniversary of Company’s founding on November 19, 2014
On August 25, 2015, Talkin' Cloud ranked Tech Data one of the world's top cloud service providers for the second consecutive year, naming Tech Data No.
2015 — Sells business operations in Chile and Peru to Ingram Micro and exits operations in Uruguay.
2015 — Announces the global launch of TDCloud and the company’s award-winning Tech Data Cloud Solutions Store, powered by the company’s StreamOne platform.
2015 — Named Microsoft Distribution Partner of the Year for second straight year.
In the second quarter of 2015, Tech Data posted record earnings, increasing net income by 22.4% and sales by 8%. Tech Data's data-center business is attributed with the record earnings.
In September 2016, Tech Data announced that it had entered into an agreement to acquire the Technology Solutions operating group from Avnet, Inc. in a stock and cash transaction valued at approximately US$2.6 billion.
2016 — Names Richard A. Hume Executive Vice President, Chief Operating Officer.
The acquisition was closed in February 2017.
2018 — Names Richard A. Hume Chief Executive Officer.
In November 2019, Tech Data announced that Apollo Global Management would acquire the company for approximately $6 billion.
2020 — Tech Data acquired by Apollo.
$37 billion in sales for fiscal 2020
On March 22, 2021, it was announced that Synnex would acquire 55% of Tech Data for a sum of $7.2 billion including debt.
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Tech Data competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| NCR | 1884 | $2.8B | 36,000 | 69 |
| F5 | 1996 | $2.8B | 6,550 | 179 |
| AT&T | 1983 | $122.3B | 230,000 | 2,610 |
| Workday | 2005 | $8.4B | 12,500 | 110 |
| Web.com Group, Inc. | - | $749.3M | 3,500 | - |
| Zebra Technologies | 1969 | $5.0B | 8,800 | 112 |
| Verizon Communications | 1983 | $134.8B | 132,200 | 18 |
| Pitney Bowes | 1920 | $2.0B | 14,700 | 58 |
| Alphabet | 2015 | $350.0B | 156,301 | - |
| Infor | 2002 | $3.2B | 18,000 | 22 |
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Tech Data may also be known as or be related to TECH DATA CORP, Tech Data and Tech Data Corporation.