Tech Data completes Computer 2000 acquisition

Tech Data completes Computer 2000 acquisition

Tech Data yesterday completed the acquisition of a majority stake in Germany's Computer 2000 AG, Europe's largest computer products distributor.

Tech Data purchased approximately 80 per cent of the outstanding voting common stock of Computer 2000 from its parent company, Kloeckner & Co. Kloeckner is a subsidiary of the Munich-based conglomerate Viag AG.

In a cash transaction, Tech Data also acquired an additional stake of approximately 3 per cent of Computer 2000's shares from an unnamed institutional investor, bringing its holding now to 83 per cent of the Munich-based distributor.

The deal to acquire Computer 2000, which operates in 30 countries worldwide, was announced in April and is expected to give Tech Data access to new markets under a global expansion plan.

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