HERNDON, Va., Oct. 30, 2019 /PRNewswire/ -- DLT Solutions, the premier government solutions aggregator, announced today that it has entered into a definitive agreement to be acquired by Tech Data (Nasdaq: TECD). Upon closing of the transaction, DLT will become a wholly owned subsidiary of Tech Data.
DLT has experienced continued growth through sales of next-generation technologies, including cloud and cybersecurity, to the public sector since its acquisition by Mill Point Capital in 2015.
"This transaction represents an opportunity for DLT to expand its value proposition by aligning with a Fortune 100 company that brings broader vendor and partner relationships, financial strength, and a strong commitment to solutions aggregation," said Art Richer, CEO of DLT. "Government customers continue to look to new cloud and as-a-service delivery models requiring access to more technologies and partners to deliver them. The addition of DLT enables Tech Data to proactively develop opportunities, accelerate growth and simplify complexity for its channel partners serving the U.S. public sector space."
This acquisition is subject to customary regulatory approval and is expected to close during Tech Data's fourth fiscal quarter.
Michael Duran, Founder and Managing Partner of Mill Point Capital, said, "We recognized the opportunity for growth in cloud and software adoption in the public sector market and invested in the capabilities necessary to bring value to our channel partners. Under the leadership of Art and his management team, DLT has expanded its value proposition and has grown to become the leading solutions aggregator in the public sector. Signing this agreement with Tech Data allows for a combination of value that will further accelerate growth in this market."
DLT was represented in this transaction by Evercore.
DLTSolutions (www.dlt.com) accelerates public sector growth for technology companies in the federal, state and local, education, utilities and healthcare markets. As the premier government solutions aggregator, DLT creates value for technology companies by enabling their public sector customers to make smarter technology choices through access to a robust network of partners, a broad portfolio of over 50 in-house contract vehicles, and dedicated channel enablement services.
Tech Data (www.techdata.com) connects the world with the power of technology. Tech Data's end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow and advance. Tech Data is ranked No. 88 on the Fortune 500® and has been named one of Fortune's World's Most Admired Companies for 10 straight years. To find out more, visit www.techdata.com or follow us on Twitter, LinkedIn,Facebook andInstagram.
Mill Point Capital (www.millpoint.com.)is a private equity firm targeting control investments in lower-middle market businesses, with a focus on industrials and business services companies in North America. Mill Point's experienced team of investors and Executive Partners seek to enhance the value of portfolio companies by executing transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY.