Tech Data's plan to expand its Asia-Pacific footprint was last weekend put on hold when India-based distributor Inflow Technologies decided to pull out of its planned acquisition by Tech Data.
Tech Data on Monday said Indian distributor Inflow Technologies exercised its right to withdraw from the planned acquisition and pay an unspecified break fee to Tech Data.
Tech Data, which is in the midst of being acquired by private equity company Apollo Global Management, in December said it would acquire Inflow Technologies to give it an expanded Asia-Pacific footprint as well as cybersecurity and networking expertise.
Tech Data at the time declined to unveil the value of the proposed acquisition.
Tech Data has operations throughout the Asia-Pacific region. Inflow Technologies would have added more muscle throughout India, plus Singapore, Bangladesh, and Sri Lanka.
Tech Data, in reply to a CRN USA request for more information, said the company would not comment beyond the press release sent on Monday. However, when asked by CRN USA about regulatory filings, a spokesperson replied via email that the planned acquisition of Inflow Technologies was considered immaterial, and so no filing was made.
Inflow Technologies did not respond to a CRN USA request for further information by press time.
Jaideep Malhotra, president of the Tech Data's Asia Pacific operations, said in a prepared statement that Tech Data respects Inflow Technology's decision to go in a different direction.
"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," Malhotra said in that statement.