11/23/2023 0 Comments Synnex merger tech dataIn July 2020, the Republican National Convention's servers were hacked through Synnex. The spinoff was completed on 1 December 2020, with Synnex shareholders getting one share of Concentrix for each share of Synnex they held. On 9 January 2020, Dennis Polk, President and Chief Executive Officer of Synnex, announced plans to separate SYNNEX and Concentrix into two publicly traded companies. In 2019, Synnex sits at number 158 on the Fortune 500 listing. On 5 October 2018, Convergys Corporation and Synnex announced that they have completed the merger. On 28 June 2018, Convergys and Synnex announced they have reached a definitive agreement in which Synnex would acquire Convergys for $2.43 billion in combined stock and cash, and integrate it with Concentrix. In June 2017, Synnex acquired the North and Latin American operations of Westcon-Comstor, along with 10% of the remaining part of Westcon (Westcon International) from Datatec for a reported consideration of up to $830 million. Synnex acquired IBM's worldwide customer care business process outsourcing (BPO) services business on 11 September 2013. In 2012 Hyve Solutions announced a partnership with IBM and Zettaset to produce a bundled "turnkey" platform for Hadoop-based analytics targeted to the needs of small- and medium-sized businesses. In December 2010 Synnex acquired the managed business solutions division of e4e, an ITes service provider located in Bangalore in India. On 21 December 2009, Synnex acquired Jack of All Games from Take-Two Interactive. The company is one of the major employers in Greenville, South Carolina. As a business process outsourcing and contract assembly it works with industry suppliers of IT systems, peripherals, system components, software and networking equipment. Originally founded as a technology hardware distributor, Synnex distributes products and related logistics services. As an information technology supply chain services company, it offered services to original equipment manufacturers, software publishers and reseller customers. It merged with competitor Tech Data to form TD Synnex. Here's a look at the end markets and technology stacks Synnex and Tech Data will target.Synnex was an American multinational corporation that provides information technology (IT) services to businesses. The company sees savings of $100 million in the first year of closing with at least $200 million by the end of the second year.The combined company will see non-GAAP earnings per share accretion of more than 25% in the first year after the close.Tech Data CEO Rich Hume will lead the combined company and Synnex CEO Dennis Polk will be executive chair.Synnex shareholders will own 55% of the combined company with 45% going to Apollo Funds.Apollo Funds will get an aggregate of 44 million Synnex share and refinancing of Tech Data's net debt and preferred shares of $2.7 billion.The scale will improve efficiency and partnerships with vendors.Īccording to Synnex and Tech Data, the combination will also be better able to tackle growth markets such as IoT, 5G, cloud and edge computing as well as everything-as-a-service extensions. Once the deal is complete, the combined company will offer more than 200,000 products in more than 100 countries.
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