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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.
ORock Technologies has signed a distribution agreement with SYNNEX Corporation (NYSE: SNX) to enhance its cloud business, speeding up sales cycles within SYNNEX's extensive partner ecosystem. This partnership positions ORock to serve highly regulated industries and government agencies with secure cloud solutions. With its latest offering, ORockCloud, utilizing Lockheed Martin’s Secure Runtime Environment and Intel processors, ORock aims to ensure secure, high-performance computing for mission-critical workloads. This agreement underscores both companies' commitment to modernization and security at scale.
SDV Solutions, a Service-Disabled Veteran-Owned Small Business, has announced a partnership with SYNNEX Corporation (NYSE: SNX) to provide third-party multi-vendor (TPM) support and hardware maintenance tailored for Federal Government agencies. This collaboration aims to leverage SDV Solutions' certified technicians and support services, enhancing SYNNEX's offerings in the Federal sector. Established in 2004, SDV Solutions brings extensive experience in serving Government contracts, while SYNNEX is recognized as a leading provider in technology distribution and integration.
SYNNEX Corporation (NYSE: SNX) reported strong fiscal Q2 2021 results, with revenue increasing by 31.0% to $5.9 billion compared to $4.5 billion in Q2 FY20. Operating income rose 67.8% to $148 million, while non-GAAP operating income also grew by 67.0% to $170 million. Diluted earnings per share from continuing operations reached $1.78, a significant 83.5% increase year-over-year. The company's return on invested capital (ROIC) was 17.5%, highlighting effective capital usage. SYNNEX forecasts continued growth for Q3 FY21, driven by a positive IT spending environment.
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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.