Welcome to our dedicated page for TD SYNNEX Corporation news (Ticker: SNX), a resource for investors and traders seeking the latest updates and insights on TD SYNNEX Corporation stock.
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 (SNX) reported strong financial results for Q4 FY21 and the full fiscal year ended November 30, 2021. Revenue surged to $15.6 billion, a 155.1% increase from the prior year, driven by the Tech Data merger. However, operating income fell to $185 million from $200 million, with diluted EPS decreasing 50.6% to $1.24. For FY21, total revenue reached $31.6 billion, a 58.3% increase. Non-GAAP EPS rose 27.4% to $9.40, while cash generated from operations was $810 million.
TD SYNNEX has partnered with MicroStrategy to enhance its North American analytics portfolio, providing channel partners with end-to-end enterprise analytics solutions. This partnership enables self-service data discovery and embedded analytics through MicroStrategy’s platform, allowing organizations to leverage modern insights and improve analytics adoption rates. Key benefits include open architecture with over 200 data gateways, personalized insights, and a fully managed analytics platform deployable within weeks. This strategic alliance is aimed at driving growth and innovation in data-driven business environments.
TD SYNNEX (NYSE: SNX) will announce its fourth quarter fiscal 2021 financial results on January 11, 2022, prior to market open. A conference call to discuss the results will occur at 6:00 AM (PT) / 9:00 AM (ET), hosted by CEO Rich Hume and CFO Marshall Witt. Investors can access the earnings release and a live audio webcast at ir.synnex.com. A replay will also be available post-call.
Tech Data India, a TD SYNNEX company (NYSE: SNX), has partnered with Zscaler to provide cloud security solutions as part of the Zscaler Zero Trust Exchange. This collaboration aims to enhance digital transformation for partners by enabling secure connections over any network, facilitating the transition from on-premise systems to cloud-based architectures. Customers will benefit from a broader security portfolio and options for adopting a zero-trust architecture, positioning Tech Data India strongly in the evolving security landscape.
Qumu Corporation (NASDAQ: QUMU) has partnered with Kollective to enhance enterprise video communication solutions. This collaboration integrates Qumu's video engagement tools with Kollective's content delivery network, allowing for scalable and efficient internal communications. The newly launched Qumu Partner Program aims to facilitate seamless integration and drive revenue opportunities for partners. As remote work becomes standard, this partnership addresses the growing need for secure, high-quality video solutions for global enterprises.
Hyve Solutions Corporation, a subsidiary of TD SYNNEX (NYSE: SNX), has qualified Micron's 7400 E1.S SSDs with NVMe for its Polaris 9219 platform. This solid-state drive utilizes PCIe Gen4 technology, providing exceptional performance and flexibility, enhancing workloads from Edge to Cloud. Jay Shenoy of Hyve underscores the design's focus on customer needs like heat dissipation and energy efficiency. The collaboration with Micron aims to address the growing demand for secure flash-optimized solutions in modern enterprise applications.
ProModel Corporation has partnered with Datech Solutions, a Tech Data company, enabling Autodesk partners to enhance their offerings in architectural and mechanical sectors. This partnership allows for the introduction of ProModel AutoCAD Edition bundles, aimed at improving process modeling and simulation. Senior executives from both companies highlighted the potential for increased revenue and better customer service through enhanced simulation capabilities. The collaboration supports a strategic initiative to deliver more value and drive loyalty among partners in the EMEA region.
TD SYNNEX has appointed Adam Rutstein as the new Director of Global Corporate Responsibility, effective immediately. Rutstein will spearhead the company's Environmental, Social and Governance (ESG) initiatives, reinforcing its longstanding commitment to sustainability and corporate social responsibility. His prior experience at Newell Brands includes developing a comprehensive corporate social responsibility program. Corporate Vice President Jill Kermes expressed enthusiasm for Rutstein's leadership in enhancing TD SYNNEX's accountability towards its sustainability goals.
TD SYNNEX Corporation announced the launch of global security, data, and IoT market-ready solutions available on the StreamOne™ platform on December 1, 2021. The new Click-to-Run™ offerings aim to enhance customer speed to market while simplifying the deployment of advanced technology through the cloud. Initial solutions include endpoint security and IoT options from renowned partners like Microsoft, Veeam, and VMware. The initiative reflects extensive collaboration with partners, aiming to unlock growth opportunities for channel partners across various sectors.
TD SYNNEX has appointed Sammy Kinlaw as senior vice president of Sales Communities in North America. Kinlaw will oversee the Varnex, Tech Select, and Stellr communities, aimed at small to medium-sized businesses, advanced solutions, and managed service providers, respectively. His leadership is expected to foster growth above market trends, enhancing member benefits and modernizing community offerings. Following the merger of SYNNEX and Tech Data, TD SYNNEX aims to deepen support and broaden training and certification opportunities for its members.
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