0001193125-12-388278.txt : 20120912 0001193125-12-388278.hdr.sgml : 20120912 20120911184339 ACCESSION NUMBER: 0001193125-12-388278 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120911 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120912 DATE AS OF CHANGE: 20120911 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TECH DATA CORP CENTRAL INDEX KEY: 0000790703 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-COMPUTER & PERIPHERAL EQUIPMENT & SOFTWARE [5045] IRS NUMBER: 591578329 STATE OF INCORPORATION: FL FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-14625 FILM NUMBER: 121086486 BUSINESS ADDRESS: STREET 1: 5350 TECH DATA DR CITY: CLEARWATER STATE: FL ZIP: 33760 BUSINESS PHONE: 7275397429 MAIL ADDRESS: STREET 1: 5350 TECH DATA DRIVE CITY: CLEARWATER STATE: FL ZIP: 33760 8-K 1 d409617d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) September 11, 2012

 

 

Tech Data Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Florida   0-14625   59-1578329

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

5350 Tech Data Drive

Clearwater, Florida

   33760
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: 727-539-7429

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01. Other Events.

On September 11, 2012, Tech Data Corporation (“Tech Data” or “The Company”), a leading distributor of IT products, announced it has completed the acquisition of Brightstar Corp.’s (“Brightstar”) 50 percent ownership interest in Brightstar Europe Limited (“BEL”), a pan-European provider of distribution and integrated supply chain solutions for the mobility industry.

Tech Data paid Brightstar $165.6 million in cash for Brightstar’s equity in the joint venture (reflected as “noncontrolling interest” within the Company’s consolidated balance sheet) and the repayment of all loans advanced by Brightstar to the joint venture. As a result of this transaction, Tech Data will record an adjustment that decreases additional paid-in capital within shareholders’ equity by $86 million to $90 million, representing the purchase price premium paid to Brightstar for its share of the joint venture and costs incurred associated with the transaction.

BEL had been a consolidated subsidiary of Tech Data Corporation. As such, the transaction is not expected to impact Tech Data’s fiscal 2013 net sales, gross profit or operating income. With the transaction now complete, Brightstar’s portion of BEL’s operating performance, (reflected as “net income attributable to noncontrolling interest”), will be eliminated as of the closing date, resulting in an anticipated positive impact to fiscal 2013 net income and earnings per share attributable to shareholders of Tech Data Corporation.

 

Item 9.01. Financial Statements and Exhibits.

 

  (c) Exhibits

 

Exhibit 99.1    September 11, 2012 Press Release by Tech Data Corporation

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   

Tech Data Corporation

    (Registrant)

September 12, 2012

    
(Date)    
   

/s/    JEFFREY P. HOWELLS        

    Jeffery P. Howells
   

Executive Vice President &

Chief Financial Officer

Tech Data Corporation

 EX-99.1 2 d409617dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

NEWS

FOR IMMEDIATE RELEASE

Tech Data Corporation Completes Acquisition of Joint Venture Partner’s Interest in Brightstar Europe Limited

CLEARWATER, Fla., (September 11, 2012) — Tech Data Corporation (Nasdaq:TECD), a leading distributor of IT products, today announced it has completed the acquisition of Brightstar Corp.’s (Brightstar) 50 percent ownership interest in Brightstar Europe Limited (BEL), a pan-European provider of distribution and integrated supply chain solutions for the mobility industry.

Tech Data paid Brightstar $165.6 million in cash for Brightstar’s equity in the joint venture (reflected as “noncontrolling interest” within the Company’s consolidated balance sheet) and the repayment of all loans advanced by Brightstar to the joint venture. As a result of this transaction, Tech Data will record an adjustment that decreases additional paid-in capital within shareholders’ equity by $86 million to $90 million, representing the purchase price premium paid to Brightstar for its share of the joint venture and costs incurred associated with the transaction.

BEL had been a consolidated subsidiary of Tech Data Corporation. As such, the transaction is not expected to impact Tech Data’s fiscal 2013 net sales, gross profit or operating income. With the transaction now complete, Brightstar’s portion of BEL’s operating performance, (reflected as “net income attributable to noncontrolling interest”), will be eliminated as of the closing date, resulting in an anticipated positive impact to fiscal 2013 net income and earnings per share attributable to shareholders of Tech Data Corporation.

“Acquiring full ownership of the joint venture reflects our commitment to and confidence in the European mobility distribution market,” said Robert M. Dutkowsky, chief executive officer, Tech Data Corporation. “Mobility is one of Tech Data’s fastest growing specialty businesses and an important element of our diversification strategy. We thank Brightstar for its partnership in helping to establish and expand the joint venture. Since the business already operates within our European infrastructure, Tech Data’s shareholders will now benefit from owning 100 percent of this highly successful specialty division.”

Cautionary Statement

The matters discussed herein may contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from expectations. Certain of these risks are set forth in the company’s periodic filings with the Securities and Exchange Commission, including the company’s most recent Form 10-K and Form 10-Q, copies of which can be obtained at the company’s Investor Relations website at www.techdata.com.

Tech Data Corporation Completes Acquisition of Joint Venture Partner’s Interest in Brightstar Europe Limited

September 11, 2012

 

About Tech Data

Tech Data Corporation (NASDAQ GS: TECD) is one of the world’s largest wholesale distributors of technology products. Its advanced logistics capabilities and value added services enable 125,000 resellers in more than 100 countries to efficiently and cost effectively support the diverse technology needs of end users. Tech Data generated $26.5 billion in net sales for the fiscal year ended January 31, 2012 and is ranked 109th on the Fortune 500®. For more information, please visit www.techdata.com.

INVESTOR CONTACTS

Jeffery P. Howells

Executive Vice President and Chief Financial Officer

(727) 538-7825

jeff.howells@techdata.com

Arleen Quinones

Director, Investor Relations and Shareholder Services

(727) 532-8866

arleen.quinones@techdata.com

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