Dicker Data's "deal of the century" is another step closer to reality today, with news shareholders have approved the finance component of the $65 million Express Data acquisition.
The announcement means Dicker has shareholder approval for a $130 million line of credit, of which $65.5 million will cover the Express Data acquisition. Raising that $65 million was a "herculean task", David Dicker previously told CRN when the deal was announced.
With this step complete, Dicker Data is on track to complete the Express Data acquisition by 1 April this year.
Dicker plans to pay off the debt via a combination of receivables from the combined group, a dividend reinvestment plan for shareholders, and the issuing of shares.
Dicker Data revealed the momentous deal last month, bringing on-board Express Data's 350 staff and revenues of $798.5 million. The deal was welcomed at the time by several disties.
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