William McCormick
DLT Solutions has entered into a definitive agreement to be acquired by Tech Data, DLT Solutions announced on Wednesday.Â
The acquisition is subject to customary regulatory approval and is expected to close in Tech Data’s fourth quarter. DLT will become a wholly owned subsidiary of Tech Data.Â
Art Richer, CEO at DLT, said that the transaction “represents an opportunity for DLT to expand its value proposition by aligning with a Fortune 100 company that brings broader vendor and partner relationships†and financial strength.
DLT has experienced continued growth through sales of next-generation technologies, including cloud and cybersecurity, to the public sector since its acquisition by Mill Point Capital in 2015.
“Government customers continue to look to new cloud and as-a-service delivery models requiring access to more technologies and partners to deliver them. The addition of DLT enables Tech Data to proactively develop opportunities, accelerate growth and simplify complexity for its channel partners serving the U.S. public sector space,†Richer added.
DLT Solutions is being represented by Evercore in the transaction.Â
About DLT SolutionsÂ
DLT Solutions accelerates public sector growth for technology companies in the federal, state and local, education, utilities and healthcare markets. As the premier government solutions aggregator, DLT creates value for technology companies by enabling their public sector customers to make smarter technology choices through access to a robust network of partners, a broad portfolio of over 50 in-house contract vehicles and dedicated channel enablement services.
About Tech Data
Tech Data connects the world with the power of technology. Tech Data's end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow and advance. Tech Data is ranked No. 88 on the Fortune 500 and has been named one of Fortune's World's Most Admired Companies for 10 straight years.
