TD SYNNEX Corporation - SNX STOCK NEWS

DLT Solutions, a subsidiary of Tech Data, has secured a $167.5 million enterprise agreement with the U.S. Department of the Navy for Red Hat solutions, training, and services. This contract, awarded through NASA's SEWP government-wide acquisition contract, is a five-year deal that reinforces DLT's commitment to enhancing procurement efficiency, asset visibility, and cost savings for the Navy. DLT's Enterprise Agreement Platform will be employed to manage the contract, facilitating new revenue opportunities and improving service delivery.

Claroty has partnered with TD SYNNEX (NYSE: SNX) to offer its Claroty Platform and Medigate solutions, expanding TD SYNNEX’s cybersecurity offerings. This strategic partnership allows channel partners to purchase these solutions directly through TD SYNNEX, enhancing support for organizations needing protection for connected systems in industrial, healthcare, and enterprise environments. The Claroty Platform provides visibility, threat detection, and integrated secure remote access, critical for securing critical assets across various sectors.

TD SYNNEX has launched the Passage Program to tackle the global cybersecurity skills gap, which currently requires nearly 2.7 million professionals. This initiative comprises the Placement Initiative and the Upskill Initiative, both aimed at enhancing job readiness in cybersecurity roles. The Placement Initiative offers free training and job placement support for aspiring SOC Analysts and Junior Penetration Testers, while the Upskill Initiative helps current professionals advance their skills. This program utilizes expertise from the TD SYNNEX Cyber Range facility.

TD SYNNEX has partnered with SentryBay to enhance its cybersecurity offerings by adding the Armored Client and Data Protection Suite to its portfolio. This agreement aims to serve TD SYNNEX's reseller network in the USA and Canada, with plans for global expansion into Europe and Asia. The partnership responds to the growing demand for security solutions that protect corporate applications in a BYOD environment. SentryBay's solutions provide effective data protection without the need to identify threats, enhancing cybersecurity for enterprises and SMEs.

Megaport Limited announces a partnership with TD SYNNEX to enhance network connectivity solutions for enterprises. This collaboration enables TD SYNNEX customers to utilize Megaport's global, private Software Defined Network (SDN) platform, facilitating improved network performance, reduced costs, and rapid interconnection to numerous cloud service providers. Benefits include low-latency connections, reduced egress costs, and simplified provisioning processes.

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.