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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.
SYNNEX Corporation (NYSE: SNX) has entered a definitive merger agreement with Tech Data, valued at approximately $7.2 billion. The merger aims to create a combined entity with about $57 billion in pro forma annual revenues and a workforce of over 22,000. SYNNEX shareholders will own 55% of the new company, while Apollo Funds will hold 45%. Significant benefits include enhanced global reach, operational efficiencies, and projected non-GAAP diluted EPS accretion exceeding 25% in the first year.
SYNNEX Corporation (NYSE: SNX) has been recognized as Samsung's 2020 Mobile Distribution Partner of the Year during a virtual conference. This award is based on total sales volume and highlights SYNNEX's growing market share in key verticals, particularly in cloud, mobility, and IoT solutions. The company has demonstrated agility and exceptional support throughout the past year, contributing positively despite industry challenges. Samsung commended SYNNEX for innovative solutions and a strong partnership aimed at addressing evolving customer needs.
SYNNEX Corporation (NYSE: SNX) will report its Q1 fiscal 2021 financial results on March 22, 2021, after market close. A live earnings call is scheduled for 2:00 PM PT / 5:00 PM ET on the same day, featuring CEO Dennis Polk and CFO Marshall Witt. The earnings press release and a live audio webcast will be available at ir.synnex.com, with a replay accessible afterward. SYNNEX, founded in 1980, provides comprehensive technology distribution and services globally.
SYNNEX Corporation (NYSE: SNX) announced on March 10, 2021, that HPE GreenLake cloud services are now available through the SYNNEX Stellr Marketplace. This integration allows reseller partners to offer HPE GreenLake for various cloud services, enhancing their capacity to support mid-market and SMB customers with pre-configured solutions. The program aims to create recurring revenue streams for partners while providing scalable cloud services. HPE GreenLake caters to diverse IT environments, facilitating digital transformations for customers.
On February 8, 2021, SYNNEX Corporation (NYSE: SNX) announced that twelve of its executives have been recognized on CRN's 2021 Channel Chiefs list, highlighting leadership and innovation in the IT channel. The honorees include notable figures such as Bob Stegner and Jay Denton, who have significantly contributed to growth and success in their respective divisions. This recognition showcases SYNNEX's commitment to its partner community despite the challenges posed by the pandemic, demonstrating the effectiveness of its strategies and programs in driving growth.
SYNNEX Corporation (NYSE: SNX) announced that Greg Quesnel will not stand for re-election to its Board of Directors at the annual meeting on March 16, 2021. Quesnel has been a board member since 2005 and is currently the Chair of the Compensation Committee. His contributions during SYNNEX's significant growth and strategic acquisitions were acknowledged by the board, with leadership expressing gratitude for his mentorship. The company continues to operate across numerous countries and remains a key player in technology distribution and integration services.
PCTEL, Inc. (Nasdaq: PCTI) has announced a distribution agreement with SYNNEX Corporation, enhancing its antenna business in the Industrial IoT market. PCTEL's innovative antenna portfolio will leverage SYNNEX's strong customer relations to drive digital transformation. This strategic partnership aims to capitalize on growth opportunities within the Industrial IoT sector, benefiting both PCTEL and SYNNEX's clients in the public sector and federal markets as they embrace AI and cloud technology.
SYNNEX Corporation (NYSE: SNX) reported robust financial results for Q4 and FY20, with revenues reaching $7.414 billion and $24.676 billion, reflecting growth of 12.7% and 3.9%, respectively. Operating income for Q4 increased 19.5% to $320.6 million, and net income rose 22.2% to $215.2 million. The company's Technology Solutions segment saw a 13.9% revenue increase, while Concentrix achieved a 7.3% gain. The first quarter of FY21 outlook suggests continued positive momentum.
Ribbon Communications (Nasdaq: RBBN) is expanding its partnership with Synnex (NYSE: SNX) to enhance the availability of its UC&C-enabling Edge solutions in the Caribbean and Latin America (CALA) markets. This collaboration aims to leverage Ribbon's advanced communications solutions, helping Synnex meet the demands of service providers and enterprises. Notable offerings include Microsoft-certified SBCs, analytics, and advanced application server platforms. Both companies believe this expansion will significantly increase market share and provide enhanced value to their partners.
Dynabook Americas introduced the Satellite Pro laptop series, comprising models C40, C50, and L50, priced from $499.99. This series targets small and medium businesses, featuring 10th Gen Intel Core processors and Windows 10 options. The company partnered with SYNNEX Corporation to handle U.S. distribution, enhancing market reach. The laptops include modern designs, extensive connectivity options, and are equipped with antimicrobial technology. All configurations come with a one-year warranty.