The Channel logo

News

By | Kelly Fiveash 27th March 2007 15:16

Tech Data abandons Middle East

Expects up to $7m loss

Tech Data, the world's second biggest technology distributor, is withdrawing from the Middle East with Aptec stepping in to fill the hole left in the region.

In a filing made to the Securities and Exchange Commission Tech Data said that it expects to see a loss of up to $7m for the first half of fiscal 2008 because of the retreat.

The firm cited "increasingly difficult" regional market conditions for the decision to withdraw.

It posted a net loss of $142m on sales of $9.88bn for its financial year ended 31 January 2007.

On 21 March Tech Data confirmed it will hand over up to 14 franchises and distribution agreements to the newly formed Tech Data Middle East, a wholly-owned subsidiary of Aptec Holdings.

Dr A Ali Baghdadi, chairman and CEO of Aptec, said: "We can see tremendous opportunities for growing this business and broadening Aptec's footprint across the Middle East and beyond." ®

alert Send corrections

Opinion

Ship scrapyard photo via Shutterstock
Windows 10 Universal Apps
Windows 10 on Surface 3

Tim Anderson

It's do-or-die for Microsoft's new operating system on 29 July

Features

Steve Ballmer. Pic:  Aanjhan Ranganathan
Nokia is the biggest write-off yet, but it wasn't the first
Confused computer keyboard
Last Christmas, I gave you my Cloud, the very next day you gave it away
Time to pull out the magnifying glass to swot up on those Ts&Cs
Android icon desktop toys
Nice devices, now speak 'enterprise' to me