American IT products distributor Tech Data Corporation has announced today that the company has completed the acquisition of certain assets of Scribona AB, a publicly traded Scandanavian IT distribution company 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," said Robert M. Dutkowsky, Chief Executive Officer, Tech Data Corporation. "With this transaction, we penetrate new value-add product lines and solutions and expand our presence as a leading IT distributor in the Nordics."

 

In accordance with the asset purchase agreement, Tech Data will pay approximately $60 million, plus a $23 million premium, for the net value of the transferred assets including inventory, vendor agreements, customer lists, office equipment and certain other assets.