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TD SYNNEX Corporation reports developments tied to its role as a global distributor and solutions aggregator for the IT ecosystem. The company’s distribution business spans IT hardware, software and systems across the Americas, Europe, and Asia-Pacific and Japan, while Hyve Solutions designs, manufactures and delivers traditional and accelerated compute, cloud and connected infrastructure worldwide.
Recurring news includes vendor awards and channel partnerships with major technology providers, expansion of AI infrastructure, cloud commerce, cybersecurity, secure networking and managed-service offerings, and partner enablement programs. Company updates also cover quarterly operating results, dividends, segment reporting and the performance of its global distribution and Hyve Solutions businesses.
TD SYNNEX (NYSE: SNX) recently announced its updated Channel for Microsoft, aimed at facilitating the transition of 400,000 organizations globally from the Microsoft Partner Network to the Microsoft Cloud Partner Program. This initiative, known as the Practice Builder for Microsoft, is available at no cost for TD SYNNEX solution providers. The program includes seven Practice Builder paths aligned with Microsoft's revised partner program, enhancing partners' capabilities in six solution designation areas. This move reflects TD SYNNEX's commitment to supporting channel partners in adapting to changes in the cloud landscape.
TD SYNNEX has partnered with Perimeter 81, a leading SASE platform, to enhance network security solutions for businesses facing increasing cyber threats. According to the 2022 U.S. Cybersecurity Census Report, businesses experience an average of 42 cyberattacks yearly. This partnership aims to broaden customer access to Perimeter 81’s award-winning cybersecurity platform, which has garnered recognition from Frost & Sullivan. Both companies emphasize the importance of secure network access for modern workforces.
TD SYNNEX (NYSE: SNX) has released its first Corporate Citizenship Report, highlighting progress in environmental, social, and governance (ESG) initiatives. The report outlines the company's commitment to sustainability, aiming for net-zero greenhouse gas emissions by 2045 and a 50% representation of women in its workforce by 2030. Notable achievements include diverting 350,000 mobile handsets from landfills and equipping 20,000 households with digital tools. CEO Rich Hume emphasized sustainability as central to business growth, while further detailing partnerships and training initiatives to enhance corporate citizenship.
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TD SYNNEX Corporation (NYSE: SNX) has completed a secondary public offering, selling 5,175,000 shares of common stock, including an additional 675,000 shares from underwriters. The company did not receive proceeds from this sale. Concurrently, TD SYNNEX repurchased 900,000 shares at $97.00 each for a total of $87.3 million, using cash reserves under its $1 billion share repurchase program. The offering was facilitated by major financial institutions, including Goldman Sachs and Barclays. This strategic move aims to enhance shareholder value through share repurchases while no funds will go to the company from the stock sale.
TD SYNNEX Corporation (NYSE: SNX) has announced a secondary public offering of 4,500,000 shares at $97.00 each, solely sold by entities managed by Apollo Global Management. The offering is expected to close around January 30, 2023. Additionally, the company plans to repurchase 900,000 shares under its $1 billion share repurchase program, funded by existing cash. Underwriters include Goldman Sachs, Barclays, and Citigroup, with a 30-day option for an additional 675,000 shares. The company will not receive proceeds from the shares sold by the selling stockholders. A shelf registration statement for this offering was previously filed with the SEC.
TD SYNNEX Corporation (NYSE: SNX) announced a proposed secondary public offering of 4,500,000 shares held by affiliates of Apollo Global Management. Underwriters will have a 30-day option to purchase an additional 675,000 shares. Importantly, TD SYNNEX is not selling any shares and will not receive proceeds from this sale. Additionally, the Company plans to repurchase 900,000 shares, representing 20% of the offered shares, as part of its existing $1 billion share repurchase program, using existing cash. The offering is being managed by Goldman Sachs, Barclays, and Citigroup.
The partnership between Domino Data Lab and TD SYNNEX aims to enhance AI infrastructure adoption and accelerate model development across the TD SYNNEX ecosystem, which serves over 150,000 customers globally. The collaboration allows TD SYNNEX to distribute Domino's Enterprise MLOps platform, addressing significant challenges in scaling data science identified by recent surveys. Research shows 37% of companies consider AI essential for growth, while 27% struggle with inadequate data science tools. This partnership is expected to streamline procurement processes, democratizing access to critical AI resources and facilitating faster innovation for enterprises.
TD SYNNEX (NYSE: SNX) launched the SMB Fraud Defense Click-to-Run™ solution, integrating Microsoft Azure services for small and medium businesses (SMBs) to combat increasing cloud-based threats. This solution enhances security through phishing prevention and proactive alerts. Acknowledging a surge in cyber threats, a 2022 KPMG survey indicated that 62% of companies in the Americas experienced data breaches. Additionally, the average cost of a breach has reached $4.35 million, with small businesses spending around $955,000 per attack. The new offering aims to establish consistent security baselines amidst rising cybercrime.
TD SYNNEX (NYSE: SNX) has published its inaugural Global Technology Ecosystem Benchmark Report, unveiling key trends and opportunities in the IT sector for 2023 and beyond. The report identifies five critical insights, including a strong emphasis on entering new vertical markets and expanding cloud portfolios. Additionally, it highlights significant missed opportunities in the AR/VR market, potentially worth $800 billion by 2024.