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Tech Data Wraps Up Deal For Europe's Scribona

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By RICHARD MULLINS

The Tampa Tribune

Published: May 20, 2008

TAMPA - Clearwater-based computer distributor Tech Data Corp. completed a deal that adds to its operations in Europe through a new acquisition.
Tech Data purchased the bulk of Scribona AB, a publicly traded information technology distributor with operations in Sweden, Finland and Norway.

"The completion of this acquisition represents an important step for Tech Data in our strategy to drive growth and leverage our infrastructure in the European region," Robert M. Dutkowsky, chief executive officer of Tech Data, said in a statement. "With this transaction, we penetrate new value-add product lines and solutions and expand our presence as a leading IT distributor in the Nordics."

Officials of Tech Data announced the deal in early March. Tech Data will pay about $83 million for Scribona's assets, including inventory, customer lists and other items, making payments over the course of six months. Scribona in 2007 posted revenue of $1.2 billion. After the deal, Tech Data expects about $900 million in new revenue.
Tech Data employs about 8,200 people worldwide, including about 1,800 in the Tampa Bay area. Tech Data is set to release quarterly earnings on Thursday and plans to offer more details of the transaction.

Stock in Tech Data rose 19 cents to close Monday at $36.70.

Reporter Richard Mullins can be reached at (813) 259-7919 or rmullins@tampatrib.com.

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