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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.
SYNNEX Corporation (NYSE: SNX) will release its financial results for the second quarter of fiscal 2021 on June 24, 2021, after market close. A conference call led by CEO Dennis Polk and CFO Marshall Witt will take place at 2:00 PM PT / 5:00 PM ET on the same day. The earnings press release and a live audio webcast will be available at ir.synnex.com, with a replay accessible post-call.
Smart Charging Technologies LLC (SCT) has partnered with SYNNEX Corporation (NYSE: SNX) through a distribution agreement for their innovative IoT product, Switch Always On. This collaboration aims to enhance SCT's market presence by leveraging SYNNEX's extensive network in the Networking and Power Equipment sectors. SYNNEX's established reseller base will provide significant access to IT service providers and SMBs, boosting the rollout of the Switch Always On product line. This agreement is expected to promote SCT's growth in providing reliable power solutions crucial for remote work and virtual learning.
SYNNEX Corporation (NYSE: SNX) has celebrated its rise to #117 on the 2021 FORTUNE 500 List, climbing up 13 positions from the previous year. The company reported a substantial revenue of $24.7 billion for fiscal 2020. President and CEO Dennis Polk emphasized the role of their dedicated team over the past 40 years in achieving this success. He expressed optimism for future growth in the evolving IT marketplace, aiming to support customer and vendor partners amid digital transformation.
SYNNEX Corporation (NYSE: SNX) and its subsidiary SYNNEX Canada Limited were awarded Aruba's 2021 Distributors of the Year for the US and Canada. This recognition highlights their exceptional sales performance and commitment to customer service in Aruba solutions. Achievements include growth in the SMB market and leading market share. SYNNEX has the largest dedicated support team in the channel, reinforcing its position in network distribution. The awards were announced at Aruba's Atmosphere '21 Partner Forum, emphasizing the company's collaboration and success amid the digital transformation trend.
On May 12, 2021, SYNNEX Corporation (NYSE: SNX) announced that 16 of its executives were recognized in CRN's 2021 Women of the Channel list, with two, Willa Flemate and Reyna Thompson, making the Power 100 list. This annual acknowledgment celebrates the contributions of women in the IT channel. SYNNEX's leadership emphasizes innovation and collaboration, enhancing partner capabilities in areas like AI and Digital Transformation. This recognition reflects the organization's commitment to diversity and leadership in the technology distribution sector.
Fudo Security has partnered with SYNNEX Corporation (NYSE: SNX) through a distribution agreement that enables SYNNEX to offer Fudo's advanced privileged access management (PAM) solutions. This collaboration aims to enhance cybersecurity for organizations by providing comprehensive monitoring of remote access and sessions, essential for Zero Trust strategies. Fudo PAM is lauded for quick deployment and its ability to detect suspicious activities, ensuring robust protection against threats. The partnership positions both companies to leverage the growing cybersecurity market.
On April 19, 2021, SYNNEX Corporation (NYSE: SNX) announced the establishment of a $5.0 billion credit facility, which includes a $1.5 billion term loan and a $3.5 billion revolving credit facility. This facility will replace part of the $7.5 billion bridge commitments related to its proposed merger with Tech Data. The deal is expected to close in the second half of 2021, subject to regulatory approvals and stockholder consent. SYNNEX plans to use the loan to refinance debt from both companies and maintain a strong cash flow and investment-grade credit profile.
SYNNEX Corporation (NYSE: SNX) announced a distribution agreement with Citrix Systems (NASDAQ: CTXS) on April 19, 2021. This partnership allows SYNNEX to provide its partner community access to Citrix's digital workspace solutions, aimed at enhancing remote work capabilities. The solutions will be available through SYNNEX Stellr in the U.S. and Canada. This agreement positions SYNNEX to deliver scalable, cloud-enabled workspaces, responding to the increased demand for hybrid work environments driven by the pandemic.
Sonim Technologies (Nasdaq: SONM) has entered an agreement with SYNNEX Corporation (NYSE: SNX) for the distribution of its RS60 and RS80 rugged SmartScanners and XP8 ultra-rugged smartphones across North America. The partnership aims to leverage SYNNEX's strong relationships with resellers in sectors like industrial and public safety. The devices feature durable designs suitable for extreme environments, promising lower total cost of ownership due to their proven reliability. Both firms are optimistic about the potential impact of this collaboration on workforce communication.
Hyve Solutions Corporation, a subsidiary of SYNNEX Corporation (NYSE: SNX), announced the integration of 3rd Gen Intel Xeon Scalable processors across its platforms. This upgrade aims to deliver 150% increased I/O bandwidth for AI and storage and a 50% performance boost for general compute applications. The new processors enhance flexibility, security, and efficiency, making them suitable for diverse workloads, including cloud and IoT. Hyve is committed to leveraging its partnership with Intel to meet customer demands effectively.
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