CURRENT AFFAIRS

Detailed explanation-1: -Note : The Competition Commission of India has approved the merger of Tech Data with SYNNEX Corporation under Section 31(1) of the Competition Act, 2002.

Detailed explanation-2: -On September 1, 2021, Tech Data completed a merger with Synnex creating TD SYNNEX, a new company with $59.8 billion in revenue. Through the combination of both companies, TD SYNNEX becomes the largest IT distributor, surpassing Ingram Micro.

Detailed explanation-3: -The $7.2 billion merger between Synnex and Tech Data goes final. Meantime, HPE wrapped its Zerto acquisition. Synnex and Tech Data have completed their $7.2 billion merger to form TD Synnex. The merged entity creates a mega-distributor with more than 150, 000 customers in more than 100 countries.

Detailed explanation-4: -Under the terms of the deal, Synnex shareholders will own 55 percent of the company; an Apollo subsidiary will own the rest. Synnex CEO Dennis Polk will become the new company’s executive chair.

Detailed explanation-5: -Tech Data Corporation is one of the world’s largest distributors of technology products, services and solutions.