Tech Data Corporation to Acquire Signature Technology Group, Inc.
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Brean Capital Raises Price Target on Tech Data (TECD) Following 1Q Results
May 29, 2015 7:08 AM EDTBrean Capital maintains a Buy rating on Tech Data (NASDAQ: TECD), and raised the price target to $71.00 (from $63.00), 1Q16 results. TECD reported revenue of $5.6B, in-line with Street estimates. EPS beat estimates with $0.80 compared to Street's $0.71.
Analyst Ananda Baruah commented, "Maintain... More
Tech Data (TECD) to Acquire Data Center Service Provider, Signature Technology Group
May 27, 2015 4:00 PM EDTTech Data (NASDAQ: TECD) announced it has entered into an agreement to acquire certain assets of Signature Technology Group, Inc. ("STG"), a leading provider of data center and professional services throughout North America. STG's services will be offered through Tech Data's Advanced Infrastructure Solutions (AIS) division, the company's data center business in the Americas. The transaction is expected to close in early June 2015.
"We are proud to welcome STG and its employees to the Tech Data family," said Joe Quaglia, president, the Americas at Tech Data. "The addition of STG strengthens our data center... More
