TD SYNNEX CORPORATION Stock Price, News & Analysis

TD SYNNEX (NYSE: SNX) has announced a global distribution partnership with Amazon Web Services (AWS) to provide the AWS Storage Gateway Hardware Appliance. This hardware appliance enhances procurement options for customers, allowing for seamless integration with on-premises applications. The solution supports various storage protocols and is designed for quick setup in environments lacking robust infrastructure. This partnership aims to streamline cloud migration and enhance business processes through TD SYNNEX's extensive partner network.

TD SYNNEX Corporation has completed its Exchange Offer, successfully exchanging unregistered notes for registered notes. This includes up to $700 million in 1.250% Senior Notes due 2024, $700 million in 1.750% Senior Notes due 2026, $600 million in 2.375% Senior Notes due 2028, and $500 million in 2.650% Senior Notes due 2031, reflecting high participation rates. The offer expired on July 14, 2022, with all validly tendered notes accepted. Settlement is scheduled for July 15, 2022. This action enhances the liquidity and compliance of the company’s debt securities.

Seclore announced a new partnership with TD SYNNEX, a global IT distributor, aimed at enhancing data protection solutions for enterprises. This collaboration focuses on delivering comprehensive data-centric security solutions, emphasizing real-time tracking and visibility to counter unauthorized data activities. The partnership is seen as a significant step in educating the market on Seclore’s capabilities. TD SYNNEX aims to broaden its offerings with this addition, reinforcing its commitment to driving business outcomes and growth for its customers.

TD SYNNEX reported its fiscal Q2 2022 results, highlighting a significant revenue increase of 160.7% year-over-year, reaching $15.3 billion. However, revenue declined 1.3% sequentially. The operating income rose to $253 million, up 13.6% from Q1 FY22, while net income increased 12.5% to $148.9 million. The diluted EPS was $1.55, a 13.1% increase from the previous quarter, albeit down 12.9% year-over-year. The company remains focused on merger integration and strategic growth initiatives.

Tech Data, a TD SYNNEX company, has partnered with Instructure to enhance educational solutions in India. This partnership aims to support Instructure's partners by providing on-ground assistance and leveraging Tech Data's local expertise. With a focus on the Instructure Learning Platform and its flagship product, Canvas, the collaboration seeks to meet the growing demand for EdTech solutions. Tech Data is committed to delivering effective learning management and analytics tools to improve educational outcomes across the Indian education sector.