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TD SYNNEX Corporation (NASDAQ: SNX) is a prominent global player in IT distribution and business services. Established in 1980, the company has evolved into a $10.4 billion giant with over 53,000 associates worldwide. Recognized for its excellence, TD SYNNEX was ranked No. 260 on the Fortune 500 list in 2014.
The company's primary operations are divided into two key segments: Technology Solutions and Global Business Services. In the Technology Solutions segment, TD SYNNEX collaborates with over 300 leading technology manufacturers, facilitating the distribution of their products through a network of more than 20,000 value-added resellers, primarily in North America. Key product categories include IT systems, peripherals, system components, software, networking, and consumer electronics. Esteemed vendor partners include HP, Intel, Panasonic, Microsoft, Lenovo, Seagate, among others.
TD SYNNEX also excels in providing comprehensive business process outsourcing services. These services encompass technical support, renewals management, demand generation, direct sales, customer service, back-office processing, and IT outsourcing. These offerings position TD SYNNEX as a vital partner for many companies looking to streamline their operations and enhance efficiency.
The company's geographical segments cover the Americas, Europe, and APJ (Asia-Pacific and Japan), ensuring a widespread market presence and the capability to serve a diverse client base.
Recent Achievements and Projects
- TD SYNNEX continues to innovate in the IT ecosystem, aggregating and distributing hardware, software, and systems including personal computing devices, mobile phones, printers, server and datacenter infrastructure, hybrid cloud solutions, security, networking, communications, and storage solutions.
- The company has maintained strong partnerships and expanded its product offerings to meet evolving market demands.
- Ongoing projects emphasize the enhancement of their IT distribution channels and the expansion of their global business services portfolio.
TD SYNNEX's commitment to excellence and innovation makes it a pivotal entity in the IT and business services sectors, with a significant impact on the market and a promising outlook for future growth.
TD SYNNEX reported its fiscal Q2 2022 results, highlighting a significant revenue increase of 160.7% year-over-year, reaching $15.3 billion. However, revenue declined 1.3% sequentially. The operating income rose to $253 million, up 13.6% from Q1 FY22, while net income increased 12.5% to $148.9 million. The diluted EPS was $1.55, a 13.1% increase from the previous quarter, albeit down 12.9% year-over-year. The company remains focused on merger integration and strategic growth initiatives.
Tech Data, a TD SYNNEX company, has partnered with Instructure to enhance educational solutions in India. This partnership aims to support Instructure's partners by providing on-ground assistance and leveraging Tech Data's local expertise. With a focus on the Instructure Learning Platform and its flagship product, Canvas, the collaboration seeks to meet the growing demand for EdTech solutions. Tech Data is committed to delivering effective learning management and analytics tools to improve educational outcomes across the Indian education sector.
TD SYNNEX Corporation (NYSE:SNX) announced an Exchange Offer beginning June 14, 2022, to exchange its outstanding unregistered notes for new registered notes. The exchange involves up to $700 million of new 1.250% Senior Notes due 2024, $700 million of new 1.750% Senior Notes due 2026, $600 million of new 2.375% Senior Notes due 2028, and $500 million of new 2.650% Senior Notes due 2031. This initiative is aimed at fulfilling obligations under a registration rights agreement, with no proceeds expected from the offer. The Exchange Offer expires on July 14, 2022.
Alert Logic by HelpSystems has partnered with TD SYNNEX to enhance their cybersecurity offerings by integrating managed detection and response (MDR) capabilities. This partnership aims to extend Alert Logic's market reach through TD SYNNEX’s vast network of over 20,000 resellers and retail customers. The collaboration is designed to bolster security solutions amid increasing cyber threats, providing organizations with comprehensive coverage and rapid incident response. This strategic move underscores both companies’ commitment to cybersecurity in today’s evolving threat landscape.
TD SYNNEX (NYSE: SNX) will disclose its second-quarter fiscal 2022 financial results on June 28, 2022, before the U.S. market opens. The results will be discussed during a conference call at 5:00 a.m. PT / 8:00 a.m. ET the same day, led by CEO Rich Hume and CFO Marshall Witt. Interested stakeholders can access the earnings press release and a live audio webcast on the company’s investor relations website, with a replay available afterward.
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