TD SYNNEX Corporation - SNX STOCK NEWS

TD SYNNEX announced a new strategic collaboration agreement with Amazon Web Services (AWS) to enhance digital offerings for small and medium-sized businesses across North America, Latin America, and the Caribbean. This SCA builds on a successful partnership in Europe established in 2020 and aims to provide additional resources for marketing, sales, and technical support. The collaboration focuses on cloud solutions, enabling partners to expand their market reach and better serve customers. AWS will offer tools and knowledge to accelerate partners' practices, reinforcing existing AWS services.

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.