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) has announced a new strategic partnership with EfficientIP, enhancing its portfolio with DDI and DNS Security solutions. This agreement allows EfficientIP to provide its network automation and security solutions to TD SYNNEX's community of value-added resellers, managed service providers, and system integrators across the U.S. and Canada. This move aims to address increasing cyber threats and improve network visibility and reliability amidst rising demand for secure IT solutions.
TD SYNNEX has been recognized by Nutanix as the sole recipient of the 2021 Americas Distributor of the Year award. This accolade was announced during the Nutanix Global .NEXT Digital Experience conference. The award highlights Tech Data's achievements in areas such as Broad Channel and top-line growth. Key factors include impactful program offerings, joint business planning, and operational excellence, which have led to increased pipeline and customer satisfaction.
TD SYNNEX emphasizes its strong partnership with Nutanix, which has been in place since 2014.
TD SYNNEX (NYSE: SNX) has launched the World of Inspiration, a virtual demo lab that allows for immersive visualization of multi-vendor solutions in realistic settings. This platform offers customizable scenarios for events and disaster management, featuring nine unique environments and 45 3D-rendered products. It's designed to assist reseller partners in demonstrating technology applications across various sectors including healthcare and education. As part of its SMB Connect program, this tool supports businesses in their digital transformation initiatives.
TD SYNNEX announced a partnership with Tugboat Logic to enhance its security portfolio by distributing Tugboat Logic's SaaS platform for security compliance and assurance in North America. This agreement marks Tugboat Logic's first distribution collaboration, aiming to accelerate its growth within the channel partner network. With increasing cybersecurity threats, the partnership focuses on automating infosec policy creation and audit processes, providing significant benefits for businesses. The alliance is expected to improve channel partner engagement and expand market reach.
Tech Data, a TD SYNNEX company, has signed a Distributor Agreement with Freshworks Inc. (NASDAQ: FRSH) to distribute Freshworks' business solutions in India. This partnership enables Tech Data's customers to leverage Freshworks' customer and employee engagement software. The agreement aims to enhance the IT ecosystem by providing actionable insights and promoting new consumption models, thereby supporting business growth in the region.
TD SYNNEX, a key player in the IT distribution landscape, has been awarded the FY21 Americas Distributor of the Year by Cohesity. This accolade recognizes the exceptional operational excellence, innovation, and partner support that TD SYNNEX has demonstrated. Michael Urban, president of Americas at TD SYNNEX, emphasized the importance of strategic partnerships in delivering effective technology solutions. The award was announced during the FY21 Cohesity Partner Kickoff event, highlighting the collaborative efforts that drive growth and value in the technology ecosystem.
TD SYNNEX (SNX) reported a revenue of $5.2 billion for Q3 FY21, down 1.9% from $5.3 billion in Q3 FY20. Operating income increased to $148 million, a 12.0% rise from the previous year. Non-GAAP operating income saw a 13.2% increase to $168.2 million. The diluted EPS from continuing operations rose 9.7% to $1.81. Despite overall revenue decline due to supply chain shortages, the company demonstrated improved margins and strong cash flow performance. The fourth quarter outlook is optimistic, focusing on integration and expansion.
TD SYNNEX has announced a partnership with Zscaler to provide security solutions through the Zscaler Zero Trust Exchange platform. This collaboration will enable TD SYNNEX's partners to access enhanced security offerings, enhancing their digital transformation efforts amidst rising cyber threats. The partnership aims to expand channel partnerships, with a focus on cloud-enabled architecture that supports transition from on-premise models. TD SYNNEX serves over 150,000 customers globally and is committed to delivering comprehensive IT solutions that drive business growth.
McAfee Enterprise has partnered with IBM Security to launch a comprehensive security solution for TD SYNNEX customers, enhancing protection against cloud and endpoint threats. The collaboration focuses on integrating McAfee's MVISION Device-to-Cloud Platform with IBM's QRadar, facilitating improved visibility, control, and threat remediation capabilities. This first-ever joint solution is essential for businesses seeking robust security postures in the evolving digital landscape. Customers can access this integrated security offering through TD SYNNEX's distribution network, aimed at strengthening defenses amid rising cyber risks.
Tech Data, a TD SYNNEX company (NYSE: SNX), announced a distribution agreement with Palo Alto Networks to enhance cybersecurity offerings in India and SAARC. This partnership aims to bolster Tech Data's Network Security portfolio and assist organizations in addressing modern security challenges. With the rise of digital transformation, both companies aim to innovate and secure cloud infrastructures using AI-driven solutions. This collaboration is expected to provide added value to resellers and improve cybersecurity practices for clients across the region.