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Articles about Tech Data

Former Tech Data UK beancounters may face rubber-glove treatment

The Financial Reporting Council will probe the processes used by staff linked to Tech Data UK's monumental three-year financial blunder. Blighty's largest technology distributor, previously known as Computer 2000, unearthed accountancy errors for fiscal 2011, 2012 and 2013 last spring. A subsequent internal investigation forced …
Paul Kunert, 12 May 2014

Accounts probe stings IT distie giant Tech Data on the bottom line

The residual effects of Tech Data's accountancy blunder have emerged in the distribution goliath's figures for the first quarter of its new fiscal year. While the numbers published today show rising sales, profits – hit by a series of charges including a $12.2m cost related to the accounts cock-up – are well off the pace. Tech …
Paul Kunert, 29 May 2014

Tech Data to close lid on accounting nightmare TOMORROW

Tech Data is about to wake up from the restatement nightmare that has troubled senior execs for nearly 11 months when it reports delayed fiscal '13 numbers tomorrow. The world's second largest tech wholesaler revealed in March that it discovered errors in vendor accounting which could wipe up to $33m off its bottom line for …
Paul Kunert, 04 Feb 2014
management analysis3

Tech Data granted one more stay of execution by NASDAQ

The NASDAQ Panel has granted Tech Data a final extension until the end of March to get its accounts up-to-date or face an embarrassing and costly de-listing. The tanker-sized wholesaler confirmed this in a brief filing today that it had until the 27th of that month to report restated results for each quarter in fiscal '14 ending …
Paul Kunert, 09 Dec 2013

Distie giant Tech Data's profits collapse amid beancounter probe

Fresh from restating P&L accounts for fiscal 11', '12 and '13, box-flinging demon distie Tech Data has released some delayed numbers for the nine months to 31 October and they make for happy reading… if you are a rival. The world's second largest tech wholesaler earlier this month published a report on the embarrassing …
Paul Kunert, 25 Feb 2014

Blundering Tech Data faces NASDAQ boot over Computer 2000 accounts

Tech Data is facing a delisting from the NASDAQ unless it can bring its financial house in order, the distributor has confirmed. The world's second largest tech wholesaler had until 26 September to file its fiscal 2013 Form 10-K - an annual report required by the SEC - and numbers for first half of this current financial year. …
Paul Kunert, 04 Oct 2013
hand holdin retro telephone

Tech Data dials up operations man for Europe

Tech Data (TD) continues to bulk out the management team post accountancy probe, hauling in former Ingram Micro UK boss Johan Vandenbussche to head up Operations across Europe. Under the newly created position, the industry vet will oversee HR, logistics, IT coordination and the internal consulting team, which is designed to " …
Paul Kunert, 06 Mar 2014
Suitcase bulging with cash

Tech Data execs: Nooooo... It's the INCREDIBLE SHRINKING payslip

It's tough at the top. Just ask senior execs at distie titan Tech Data, who took home a smaller pay packet in fiscal '13 as sales and profits slipped. But don't feel too sorry: CEO Bob Dutkovsky made $4.2m in total comps for the financial year ended 31 January, down 2.5 per cent from $4.31m in the previous 12 months. His base …
Paul Kunert, 07 Feb 2014
Tech Data

IT distie Tech Data must end accounts-unbungling probe within a fortnight

NASDAQ-listed Tech Data has less than a fortnight to get its accounts in order and financial filings up to date, the distributor acknowledged last night. The Florida-based broadline IT distribution giant discovered whopping great errors in its finance records at UK subsidiary C2000 back in March, which were related to blunders …
Paul Kunert, 13 Sep 2013
Tech Data

Tech Data: Computer 2000 brand taken out back and shot...today

The Computer 2000 brand is to be retired from today as the UK arm of Tech Data adopts its parent's name tag. The timing is interesting, given that C2000 – or the company formerly known as C2000 – is the subject of an ongoing investigation into vendor accounting improprieties. In a letter sent to vendor customers, seen by El …
Paul Kunert, 07 Oct 2013
management strategy4

Return of the king: Gass anointed Tech Data UK boss again

A little over two years after ending his second stint as Tech Data's UK and Ireland head honcho, Andy Gass is set to recline into his old MD chair again, with current incumbent Peter Hubbard to take over at the local Mobile sub. Company veteran Gass only moved upstairs to be senior veep of south and west Europe at the start of …
Paul Kunert, 19 Feb 2014

Tech distie Tech Data tears up last THREE years of profit numbers

IT distribution giant Tech Data has ripped up its financial results for the last three years after discovering errors in its UK subsidiary's accounts. The company revealed this morning it will recalculate the figures and publish new reports as a result of uncovering mistakes in "vendor accounting" by its Brit biz Computer 2000 …
Paul Kunert, 22 Mar 2013

Tech Data shows off perky top and bottom line in fiscal '14....

If you set aside the sales contribution it slurped from acquired SDG and the positive impact of foreign currency exchange conversions, fiscal '14 was a damp squib of a year for Tech Data (TD). The box-slinging distie demon today reported a relatively strong close to the 12 months ended 31 January with group turnover up seven per …
Paul Kunert, 09 Apr 2014

Tech Data: We need ethics, and we've found the right man

It comes to something when a corporation is forced to appoint a chief ethics and compliance officer but that is exactly what distributor Tech Data has done, weeks after completing its costly accounting investigation. Fourteen-year company veteran Jean-Paul Durand – who most recently served as TD's vice president, assistant …
Paul Kunert, 18 Feb 2014

Tech Data goes for big gun credit man amid accounts probe

Tech Data UK has opted for a big hitter to head up its credit function amid the continued probe into accounting irregularities. Blighty's largest distributor has hauled in former Sun Microsystems global credit manager Kevin Corcoran as director of credit services and after sales management. The second element to the title is …
Paul Kunert, 27 Nov 2013
management social5

Tech Data names CE director after divisional shake-up

Distie goliath Tech Data (TD) UK has handed company veteran Mark Glasspool the directorship of its consumer electronics division following a summer shake-up. Glasspool will retain his role as director of strategic opportunities at TD, which he has held since May '12, and oversee the ten-strong CE team. In a canned statement, he …
Paul Kunert, 16 Oct 2013

Tech Data: UK accounting errors cost us $27m

Tech Data (TD) has turned to "external experts" to beef up fraud detection measures after it emerged that righting accounting wrongs at its UK sub had wiped $27m (£16.55m) off net profits for the last three years. The restatement equates to three per cent of income made during fiscal '11, '12 and '13, the periods that forensic …
Paul Kunert, 05 Feb 2014
channel_teaser_exit

Tech Data Mobile UK boss Michel resigns after 18 months

Tech Data Mobile veep Jim Michel has resigned for "personal reasons" but says he is staying on board for a couple of months during the handover period. The former head of LG's mobile biz in the UK and Ireland is to be replaced by Stephen Nolan, the EMEA head of vendors at the distie. "We are going through a handover period that …
Paul Kunert, 12 Apr 2013
management governance3

Clock ticking for IT distie Tech Data to end accounts probe

IT channel biz Tech Data has until September to get its house in order - because that's when it must file all its delayed financial reports to regain compliance with NASDAQ rules. The world's second largest tech distributor missed the deadline for filing its Q1 2013 results this month, some 45 days after the end of the quarter …
Paul Kunert, 20 Jun 2013
Red pen

Ex-state attorney general probes Tech Data CEO's sale of $2m shares

A firm of legal eagles is investigating whether distie giant Tech Data violated state or federal laws by making accounting errors that will wipe millions off its bottom line from recent years. Kahn Swick & Foti (KSF) is also probing CEO Bob Dutkvsky's offloading of $2m in his firm's shares earlier this month The US logistics …
Paul Kunert, 22 Mar 2013

We'll miss SEC financials deadline, says accounts-blundering Tech Data

Tech Data has warned it will fail to report its fiscal first-quarter financial numbers to the US Securities and Exchange Commission on time due to a continuing investigation into its accounting errors. The channel biz has 45 days from the end of April to file the paperwork, but says it will sail through that deadline. The world …
Paul Kunert, 11 Jun 2013
Microsoft campus

Former Tech Data bod to head up Microsoft's UK sales division

Microsoft have promoted a channel veteran with 24 years' experience to a top job within the sales team. Linda Rendleman will join the small, mid-market solutions and partner group leadership team as director for partner business & development at Microsoft UK. She replaces Janet Gibbons, who has moved to corporate accounts as …
Team Register, 18 Dec 2013
European Union Flag

EC watchdogs clear Tech Data gobble of SDG

Tech Data's acquisition of Specialist Distribution Group (SDG) has been given the green light from competition regulators in the European Commission. As is customary with takeovers of large firms, the bureaucrats on the mainland wanted to consider the implications of the $350m (£217.4m) deal. "The Commission concluded that the …
Paul Kunert, 26 Oct 2012
channel_teaser_exit

Tech Data suspends four amid accountancy probe

Four middle managers in the finance function at Computer 2000 have been suspended as the distributor continues to investigate improprieties into vendor accounting errors. Back in March Tech Data, parent of UK arm C2000, revealed it would restate results for fiscal 2011, '12 and some or all of '13 that could wipe out between $25m …
Paul Kunert, 17 May 2013
IBM logo

IBM Euro channel bigwig made Tech Data account daddy

A senior management reshuffle at IBM has seen European channel partner boss David Cornick take up a newly created global role within Big Blue as managing executive for distributor Tech Data. As a result, David Kay, formerly sales veep at IBM UK and was effectively second in command for the operation, has replaced Cornick as the …
Paul Kunert, 09 Jan 2013
Tech Data

Tech Data pops champers, aims to rinse nasty FY '13 aftertaste

The CEO of Tech Data won't be sad to kiss goodbye to a "challenging" fiscal 2013 disrupted by falling enterprise kit sales, an SAP upgrade and a shift in the way it reports services turnover. The broadline behemoth today reported a four per cent fall in revenues for the year ended 31 January to $25.3bn - down ten per cent in the …
Paul Kunert, 04 Mar 2013
Tech Data

Tech Data gobbles Brightstar's piece of their Euro biz pie

Distribution behemoth Tech Data Corp has gulped down Brightstar's 50 per cent stake in the firms' European joint venture for around $165.6m (£106.4m) in cash. The two wholesalers set up Brightstar Europe in 2007 to share the risks and rewards of tapping up the burgeoning mobility and wireless device space in the region. Bob …
Paul Kunert, 11 Jul 2012
Tech Data

Tech Data's Q3 profits dive by more than a fifth

The wheels on distribution juggernaut Tech Data (TD) are continuing to slow with sales and operating profits sliding in Q3. For the three months ended 31 October, turnover fell eight per cent to $6bn from $6.59bn a year earlier but operating profits dived more than 22 per cent to $69.5m. The distie, which recently closed the …
Paul Kunert, 20 Nov 2012
closed_sign shut down under collapsed liquidation

M-Tech Data: Grey import battle with Oracle has ruined us

M-Tech Data's boss has claimed the "crippling" legal bill for its spat with Oracle over allegations of parallel importing left management with no option but to shut up shop. The Manchester-based distie was involved in a long running case with Sun Microsoftsystems, and subsequently the vendor's new parent Oracle over the …
Paul Kunert, 03 Aug 2012
cubicle_farm_computers_channel

Tech Data still feeling the burn from Brazilian shave

Tech Data Corporation, the IT distie giant and parent of Computer 2000 and Azlan in the UK, has seen net income rise to $51.7m in the first quarter of the year, despite a fall in revenue. The firm's total revenue dropped 6.9 per cent to $5.9bn, missing the Zacks Investment Research consensus estimate of $6.18bn. Tech Data's net …

Tech Data on its crappy Q2: Don't blame us, blame the strong dollar

Distribution giant Tech Data, daddy of Computer 2000 and Azlan in the UK, has disappointed investors with a blip in its second quarter results. Net sales for the firm slipped 7.6 per cent from the same quarter last year to $5.96bn while net income dropped 26 per cent to $38.3m from $51.7m in 2011. The company said that foreign …
IBM logo

IBM to pump Power Systems through Tech Data, Ingram Micro

Big Blue is boosting the size of the Stateside distribution channel that sells its Power Systems servers and enterprise storage by inking master distributor agreements with Ingram Micro and Tech Data. With the new deal, IBM is hoping to boost its profile among small and midrange businesses in particular, a growing market which …
Tech Data

Tech Data taps up ex-Acetebis CEO Michael Urban

Tech Data has drafted in distie veteran and one-time Actebis CEO Michael Urban to tune its volume sales business. Unveiled today as TD's senior veep for broadline and processes in Europe, Urban - who has also bagged a seat on the exec board - will report to regional president Nestor Cano. Cano said in a canned statement that …
Paul Kunert, 04 Sep 2012
globalisation

C2000 boss moves upstairs into Tech Data Euro role

Andy Gass, the boss of distie behemoth Computer 2000, has confirmed that he is handing over control of the UK business to sales director Peter Hubbard as he moves to a European role with parent Tech Data. Channel veteran Gass took the reins at C2000 - the UK arm of Tech Data - in 2006 having previously directed operations in …
Paul Kunert, 11 Jan 2012
arrow pointing up

Tech Data battens down hatches for miserable Xmas

Tech Data is cutting costs to reflect the leaner economic climate and in anticipation of modest single digit sales growth over the Christmas quarter. The distie giant today reported a seven per cent sales climb to $6.6bn (£4.2bn) for the third quarter ended 31 October, helped by a currency tailwind and a 10.6 per cent profit …
Paul Kunert, 21 Nov 2011

IT distribution titan Tech Data to gobble UK's SDG for $350m

Technology products distributor Tech Data (TD) has swallowed Specialist Distribution Group (SDG) for $350m (£220.3m) in a deal that is subject to regulatory approval from the EU's competition authorities. As revealed by The Channel some months back, UK Midlands-based Specialist Computer Holdings (SCH), SDG's parent, was …
Paul Kunert, 05 Sep 2012
channel

Tech Data gobbles Man And Machine distie biz

Broadline IT distie Tech Data (TD) is acquiring Man and Machine's (M2M) wholesaling business for an undisclosed sum to bolster its Autodesk operation. Formerly Force 10 before it was acquired by Mensch und Maschine in 2000, the distributor of digital design software and hardware will bolt onto TD's CAD/CAM Datech business unit …
Paul Kunert, 12 Sep 2011
cloud

Tech Data laughs at world market meltdown

Tech Data sailed its calendar Q2 sales and profits safely through into the sunny waters of double-digit growth aided by a favourable currency tailwind despite severe undertow from ebbing economies on both sides of the Atlantic. The great IT distie ark managed to grow sales 18 per cent to $6.45bn as operating profits climbed 20 …
Paul Kunert, 18 Aug 2011
channel

Brazilian shave costs Tech Data as profits cut by third

Tech Data (TD) exited fiscal 2012 on a low with profits from operations significantly dented by one-off expenses incurred by the closure of its Columbian and Brazilian outposts and restructuring costs in Europe. Sales for Q4 ended 31 January were flat year-on-year at $7.1bn but operating profits fell 28 per cent to $83.8m as TD …
Paul Kunert, 29 Feb 2012
globalisation

Distie acquisition helps Tech Data beat the street

Tech Data increased sales for the three months ended 31 October 2010 by 9.2 per cent to $6.16bn. The distie giant's profits for the period were up to $81m, compared to $65.1m for the same period last year. This gives earnings per share of $1.07, compared to 84 cents in 2009. Operating margin was 1.31 per cent, compared to 1.15 …
John Oates, 22 Nov 2010

Ingram Micro veteran returns to... Ingram Micro

Distribution veteran Bhavesh Patel has re-joined Ingram Micro (IM) as exec director of global business development for the Mobility side of the house. Patel took leave from the broadline tech distie in spring 2009 to hook up with his former IM UK boss Meine Oldersma at comms wholesaler 2020 Mobile Group. But 2020 was acquired …
Paul Kunert, 04 Mar 2014
channel

Tech Data sues LCD panel makers over price-fixing

Tech Data is suing several LCD panel makers, alleging that they formed an international cartel to fix prices over at least a decade. The IT distie giant claims from the start of 1996 to the end of 2006 the manufacturers conspired to "fix, raise, stabilise and maintain prices" in a lawsuit filed with the federal court in Tampa, …
Paul Kunert, 02 Nov 2011
Back of iPhone 5

SIM-free unlocked iPhones coming to a channel near you...

The faint hopes of some Apple resellers were smashed AGAIN this weekend when Ingram Micro became the second tech distributor in a month to confirm it will sell SIM-lock-free Jesus mobes ... in Europe but not the UK. Following in the shadows of nemesis Tech Data, vast wholesaler Ingram Micro confirmed it is shipping the iPhone 4S …
Paul Kunert, 25 Nov 2013

Systemax goes Dutch, devours SCC Netherlands

Shape-shifting box shuffler Systemax has swallowed SCC's "sub-scale" Dutch division for an undisclosed sum. New York-listed Systemax last night confirmed the bid to the stock exchange, the most significant buy it has made in Europe - where it trades as Misco - since the acquisition of WStore some years back. "The European IT …
Paul Kunert, 02 May 2014

Apple: SCREW YOU, BRITS ... no unlocked iPhones for you

A bit of Apple gold dust is set to bring some bling to the technology distribution channel after Tech Data confirmed it will trial the sale of SIM-lock-free iPhones to dealers in Europe – but not in good old Blighty, it seems. Yes, you read that correctly, people, the post-Jobsian empire continues to snub IT resellers operating …
Paul Kunert, 01 Nov 2013

Tech Data waves goodbye to (maybe) 80 staff

Tech Data pink-slipped 80 people at its Florida headquarters on Tuesday, America's CRN reports. The distie told the channel mag it laid off less than one per cent of its 8,000-strong global workforce, but it's not saying where the axe fell. ®
Team Register, 07 Aug 2008
management strategy3

Arrow steers boss of enterprise wing towards ops control room

A bit of top-level reshuffling at global distie Arrow has led to the recreation of a COO position. The slot will be filled by current president of the enterprise computing wing, Andy Bryant. The last person to sit in the chief operations role was current CEO Michael Long, and the appointment should free up the big boss to tinker …
Paul Kunert, 21 May 2014
Tech Data

Tech Data sales, profits up in Q1

Tech Data net income more than doubled to $23m in Q1 FY09 (Q1 2008: $9m) on sales up 12.3 per cent to $6.1bn (Q1'08: $5.4bn). The skinny profits show how little room there is for error in the computer distribution business. Gross margins improved year-on-year from 4.72 per cent to 4.86 per cent, on the back of better pricing and …
Team Register, 22 May 2008
chain_relationship_channel

Distie: Build the cloud and resellers will come... so WHERE ARE THEY?

Disties have built cloudy aggregation platforms for channel types under the assumption they would come… but they are still waiting for mass adoption. It would seem that reseller solutions provider reseller demand for brokerage services, such as the one that Arrow ECS launched 18 months ago has been a little underwhelming. Some …
Paul Kunert, 04 Dec 2013
European Union Flag

Euro recession over as sales rebound for mega distie Ingram Micro

Economic recovery on both sides of the Atlantic – and to a lesser extent sales of Apple's iPhone in certain countries across Europe – helped Ingram Micro offset declines in its mobility and Asia Pacific wings… but only just. First calendar quarter revenues at the world's bulkiest tech distie went up one per cent year-on-year to …
Paul Kunert, 24 Apr 2014