SINGAPORE--(BUSINESS WIRE)--Tech Data (Nasdaq: TECD) today announced that Inflow Technologies has exercised its right to withdraw from closing its acquisition by Tech Data. As a result, Inflow has paid a break fee to Tech Data, as outlined in the original acquisition agreement, which was announced on Dec. 16, 2019.
“We respect Inflow’s decision to go in a different direction,” said Jaideep Malhotra, President, Asia Pacific, at Tech Data. “Tech Data is committed to our strategy of delivering higher value by strengthening our end-to-end portfolio and optimizing our global footprint, and we continue to explore opportunities to grow our business in alignment with this strategy.”
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Director, External Communications, Tech Data
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