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Solution Provider News

Strong Performance in Tech Data's Q3 2016

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Strong Performance in Tech Data's Q3 2016

Tech Data sees double-digit Y-o-Y growth in global non-GAAP operating income for fiscal Q3 2017-- specifically by 14% Y-o-Y, reaching $81.1 million, on net sales worth $6.49 billion, a 1% Y-o-Y increase.

European revenues (making 60% of the global sales) see a 1% Y-o-Y increase to $3.9bn, with non-GAAP operating income for the quarter growing by 11% Y-o-Y to $42.2m. On the other hand American sales are up by 2% Y-o-Y to $2.6bn as non-GAAP operating income grows by 16% Y-o-Y to $42.5m.

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Medium Bought by Exertis

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Medium  Bought by Exertis

Exertis buys Medium Ltd., a specialist audio-visual distributor of projectors, flat panel displays, interactive systems and digital signage from brands such as CTOUCH, Casio, Hitachi, LG, NEC, Panasonic, Samsung and Peerless.

Medium employs 40 staff with a turnover of £32 million. With more than 800 AV resellers in the UK, this year Medium celebrated its 25th year in the industry.

Ian Sempers, managing director of Medium Ltd., says, “We are delighted to be joining forces with Exertis. The continued convergence of the IT and AV market means we will be in a great position to service a sector that extends beyond traditional AV solutions. Our expertise and technical knowledge in this market combined with Exertis’ wider product portfolio will provide a compelling proposition for resellers and vendors.”

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Chinese Regulators Delay Ingram Sale

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Chinese Regulators Delay Ingram Sale

Another delay hits Tianjin Tianhai acquisition of Ingram Micro-- the deal awaits approval by Chinese authorities, and as a result the finalisation of the deal has been extended to 15 December 2016.

The Chinese hurdle comes just a week after the deal received approval from the Committee on Foreign Investment in the United States (CFIUS), an examination that already lead to a previous extension of the closure date. The deal's original deadline was set on 13 November 2016, but obviously China's State Administration of Foreign Exchange needs more time to go through the details, even if the distributor is confident the acquisition will be closed by end 2016.

Once the deal is closed Ingram Micro will become part of the HNA Group, the largest shareholder of Tianjin Tianhai. Originally the only airline flying from the Chinese tropical island of Hainan, the HNA Group grew into a conglomerate with interests as varied as aviation, real estate, tourism, logistics, education, culture, finance and technology.

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Esprinet Expands in S. Europe With Itway Buy

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Esprinet Expands in S. Europe With Itway Buy

Italy's Esprinet expands further in S. Europe with the acquisition of the Italian, Spanish and Portuguese value-added distribution business of the Itway Group.

Founded in 1996, Itway distributes offerings in 3 market segments-- security, networking and server software-- within Italy, Spain, Portugal, Greece, Turkey and the M. East. It holds 30 brands in its Italian VAD portfolio, including the likes of Check Point, Red Hat and Extreme Networks, and 20 vendor brands in the Spanish and Portuguese branches. T

The VAD business generated overall pro-forma sales of €48.6 million in 2014 and €57.2m in 2015, and pre-tax profits of €1.7m in 2015. Esprinet says the deal should close on 30 November, and hopes it will add sales in excess of €480m for fiscal 2016. It will pay €5m in cash for Itway once the acquisition is done, with €5.8m to follow based on the meeting of economic and financial targets.

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Codit Merges With Axon Olympus

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Codit Merges With Axon Olympus

Belgian Microsoft specialist Codit announces a merger with Dutch consultancy Axon Olympus, creating what the two companies describe as the largest Microsoft integration and cloud solutions partner in Europe.

The merged company will operate under the Codit name, and has 120 employees in 6 countries. Codit boss Stihn Degrieck remains CEO, while Axon Olympus CEO Sean MacGillavry becomes CMO while holding responsibility for further international expansion. Codit and Axon Olympus have already been working together since a 2012, with a collaboration on R&D and managed services. The relationship was taken further in a 2014 joint venture and the opening of new offices in Zuric and Hampshire, UK.

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