Tag: synnex

Ingram Micro going public again.

Posted on September 21, 2022 by - News

Distributor Ingram Micro is going public again and has taken its paperwork to the the US Securities and Exchange Commission.

In its press statement, Ingram Micro wrote: “The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.”

The US distribution giant was once the world’s largest distributor until Synnex acquired Tech Data last year to create a $57 billon-revenue business. It was then bought by private equity powerhouse Platinum Equity in a blockbuster deal that freed the distributor from Chinese conglomerate HNA Group.

The deal gave Ingram Micro new financial resources to focus on new ways of doing business, including building its cloud and digital transformation businesses.

Ingram Micro went private in late 2016 when it was acquired by HNA Group.

 

TD Synnex releases first post-merger results

Posted on January 13, 2022 by - News

TD Synnex has published its first results since the $7.2 billion mergers between Synnex and Tech Data completed last September. Yes, M&A pays dividends!

The company posted figures which were “at or better than expectations”.

Revenue for the fourth quarter of 2021 was $15.6 billion, an increase of 155.1 percent. This was directly due to the merger’s impact compared with Tech Data’s quarter at the same time the year before. Non-GAAP operating income came to $408 million compared to $221 million.

Synnex and Tech Data deal done

Posted on September 2, 2021 by - News

Synnex and Tech Data have completed a blockbuster $7.2 billion merger which will see the joint company become the industry’s largest distributor.

The name Tech Data will be history and the new company will be TD SYNNEX, and led by Tech Data’s Rich Hume as CEO.  It will have combined revenues of almost $60 billion, putting itself in front of rival Ingram Micro.

The merger sees Synnex shareholders own 55 percent of the combined company and private equity firm Apollo Global Management own 45 percent.

“TD SYNNEX is uniquely positioned in today’s relentlessly transforming technology ecosystem”, Hume said.

“As a versatile distributor and solutions aggregator for the IT ecosystem, we’re strengthening our entire portfolio of solutions and raising the bar on the value we deliver to customers and vendors with exceptional reach, efficiency and expertise.

Tech Data and Synnex merge to become giant

Posted on March 23, 2021 by - News

Tech Data and Synnex are to merge in a $7.2 billion deal that would make them larger than Ingram Micro.

It will mean the end of the days of Tech Data being behind Ingram together, Tech Data and Synnex will boast Pro-forma annual revenues of around $57 billion and a head count of more than 22,000.

Tech Data CEO Richard Hume will become CEO of the new company.

He said: “This is transformational for Tech Data, Synnex and the entire technology ecosystem. Together, we will be able to offer our customers and vendors exceptional reach, efficiency, and expertise, redefining the experience and value they receive. The combined company will also benefit from significant financial strength to invest in its core growth platform as well as next-generation cybersecurity, cloud, data, and IoT technologies, which are experiencing explosive growth due to work from home and return to office trends.”

Channel leader Bob Stegner installed in IT Hall of Fame

Posted on July 16, 2020 by - News

IT industry executive Bob Stegner, admired and respected by colleagues and peers for three decades of commitment to the IT channel and a willingness to help others succeed along the way, is the newest member of the IT Hall of Fame.

Stegner, senior vice president for North American marketing at SYNNEX Corporation since 2007, will be honoured during a virtual ceremony on August 6 during ChannelCon Online 2020, the conference presented by CompTIA, the nonprofit association for the global technology industry.

US Synnex forces its way into European channel

Posted on June 7, 2017 by - News

european-commissionCalifornia-based Synnex has elbowed its way into the European channel with a deal for Westcon-Comstor.

Under the deal, Synnex is taking a 10 percent stake in Westcon’s international operations only, at least initially. Synnex has reserved the right to double its stake in Westcon International to 20 percent.

It also has first refusal on making an offer to acquire it in its entirety should Datatec ever look to sell the remainder of the business.

Synnex is writing a cheque for $30 million for its 10 percent stake in the international business. This is peanuts compared to the $800 million it is paying to buy Westcon’s much smaller North and Latin American arm outright.

What it all means is that Synnex has its feet under the table for any deal involving the EMEA and APAC business in the future.

In its fiscal 2016, Synnex hit revenues of $14.06 billion, with $12.49 billion of that coming from distribution activities, and $1.59 billion coming from its BPO business. The Westcon deal will bring in another $2 billion of revenues.

Synnex is better known as Microsoft distributors in the States, and the move could herald a real threat to Ingram and Tech Data.