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.
On February 8, 2021, SYNNEX Corporation (NYSE: SNX) announced that twelve of its executives have been recognized on CRN's 2021 Channel Chiefs list, highlighting leadership and innovation in the IT channel. The honorees include notable figures such as Bob Stegner and Jay Denton, who have significantly contributed to growth and success in their respective divisions. This recognition showcases SYNNEX's commitment to its partner community despite the challenges posed by the pandemic, demonstrating the effectiveness of its strategies and programs in driving growth.
SYNNEX Corporation (NYSE: SNX) announced that Greg Quesnel will not stand for re-election to its Board of Directors at the annual meeting on March 16, 2021. Quesnel has been a board member since 2005 and is currently the Chair of the Compensation Committee. His contributions during SYNNEX's significant growth and strategic acquisitions were acknowledged by the board, with leadership expressing gratitude for his mentorship. The company continues to operate across numerous countries and remains a key player in technology distribution and integration services.
PCTEL, Inc. (Nasdaq: PCTI) has announced a distribution agreement with SYNNEX Corporation, enhancing its antenna business in the Industrial IoT market. PCTEL's innovative antenna portfolio will leverage SYNNEX's strong customer relations to drive digital transformation. This strategic partnership aims to capitalize on growth opportunities within the Industrial IoT sector, benefiting both PCTEL and SYNNEX's clients in the public sector and federal markets as they embrace AI and cloud technology.
SYNNEX Corporation (NYSE: SNX) reported robust financial results for Q4 and FY20, with revenues reaching $7.414 billion and $24.676 billion, reflecting growth of 12.7% and 3.9%, respectively. Operating income for Q4 increased 19.5% to $320.6 million, and net income rose 22.2% to $215.2 million. The company's Technology Solutions segment saw a 13.9% revenue increase, while Concentrix achieved a 7.3% gain. The first quarter of FY21 outlook suggests continued positive momentum.
Dynabook Americas introduced the Satellite Pro laptop series, comprising models C40, C50, and L50, priced from $499.99. This series targets small and medium businesses, featuring 10th Gen Intel Core processors and Windows 10 options. The company partnered with SYNNEX Corporation to handle U.S. distribution, enhancing market reach. The laptops include modern designs, extensive connectivity options, and are equipped with antimicrobial technology. All configurations come with a one-year warranty.
Ribbon Communications (Nasdaq: RBBN) is expanding its partnership with Synnex (NYSE: SNX) to enhance the availability of its UC&C-enabling Edge solutions in the Caribbean and Latin America (CALA) markets. This collaboration aims to leverage Ribbon's advanced communications solutions, helping Synnex meet the demands of service providers and enterprises. Notable offerings include Microsoft-certified SBCs, analytics, and advanced application server platforms. Both companies believe this expansion will significantly increase market share and provide enhanced value to their partners.
SYNNEX Corporation (NYSE: SNX) will announce its fourth quarter fiscal 2020 financial results on January 11, 2021, after market close. A conference call will follow at 2:00 PM PT. Notably, SYNNEX is updating its non-GAAP financial measures for fiscal 2021, excluding share-based compensation and separation costs, in addition to restructuring costs and amortization of intangible assets. The earnings press release and a live audio webcast will be available at ir.synnex.com.
SYNNEX Corporation (NYSE: SNX) announced a partnership with Broadcom to enhance service levels for the Symantec Enterprise division. This agreement positions SYNNEX as one of only two authorized North American distributors of Symantec's full product portfolio, including Broadcom's new Cyber Security Aggregator Program. SYNNEX aims to leverage nearly 25 years of experience with Symantec to deliver improved support and resources to various customer segments. Exclusive offerings include technical support, onboarding assistance, and a rewards portal, enhancing the value proposition for partners.
GlobeX Data Ltd. (OTCQB:SWISF) has entered into a nationwide distribution agreement with SYNNEX Canada Limited, facilitating the availability of its Sekur secure communications solutions across Canada. The agreement allows SYNNEX to offer the Sekur suite, which includes secure email, file sharing, and messaging. GlobeX emphasizes its proprietary encryption technology and compliance with Swiss privacy laws, aiming to enhance data protection against cyber threats, particularly for SMEs and government organizations.
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