Synnex has completed its acquisition of Datatec-owned Westcon-Comstor, which it believes will play a major role in solidifying its position as a leader in security solutions within North America and Latin America.
The $800 million (£618 million) deal comprises $600 million (£464 million) paid by Synnex for Westcon-Comstor US and an additional $30 million cash (£23 million) for a 10% share of Westcon-Comstor EMEA and APAC. The remaining $190 million (£147 million) has been paid for net debt assumed, Synnex explained.
"I'm excited to welcome the Westcon-Comstor Americas team to the SYNNEX family," said Kevin Murai, president and CEO of Synnex. "We believe this talented team and their recognised leadership in the security, UCC and networking space will enhance our value proposition in the market place.
"The acquisition of Westcon-Comstor Americas continues to build on our strategy of positioning the business to where technology is growing."
Murai added that the acquisition would provide significant growth opportunities for both businesses, while working together to serve vendors and customers globally.
The company also revealed it has also gained the rights to double its stake in Westcon-Comstor's international business if it wishes to and future and will be offered first refusal should the company decide to sell its EMEA and APAC divisions in future.
"The successful completion of this transaction allows us to continue developing best-in-class programmes that accelerate business outcomes for all our partners, and better align our resources towards creating new opportunities for growth in the regions we serve together with Synnex," added Jens Montanana, CEO of Datatec and Westcon-Comstor.
