Synnex was an American

multinational corporation A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, i ...

that provides

information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system ...

(IT) services to businesses. It merged with competitor Tech Data to form TD Synnex. It was founded in 1980 by Robert T. Huang and based in

Fremont, California Fremont is a city in Alameda County, California, United States. Located in the East Bay region of the Bay Area, Fremont has a population of 230,504 as of 2020, making it the fourth most populous city in the Bay Area, behind San Jose, San Fran ...

. As an information technology supply chain services company, it offered services to

original equipment manufacturer An original equipment manufacturer (OEM) is generally perceived as a company that produces non-aftermarket parts and equipment that may be marketed by another manufacturer. It is a common industry term recognized and used by many professional or ...

s, software publishers and

reseller A reseller is a company or individual (merchant) that purchases goods or services with the intention of selling them rather than consuming or using them. This is usually done for profit (but can be done at a loss). One example can be found in th ...

customers.

History

Originally founded as a technology hardware distributor, Synnex distributes products and related logistics services. As a business process outsourcing and contract assembly it works with industry suppliers of IT systems, peripherals, system components, software and networking equipment. The company is one of the major employers in Greenville,

South Carolina )'' Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no) , anthem = "Carolina";" South Carolina On My Mind" , Former = Province of South Carolina , seat = Columbia , LargestCity = Charleston , LargestMetro = G ...

. On 21 December 2009, Synnex acquired Jack of All Games from

Take-Two Interactive Take-Two Interactive Software, Inc. is an American video game holding company based in New York City and founded by Ryan Brant in September 1993. The company owns two major publishing labels, Rockstar Games and 2K, which operate internal ...

. In December 2010 Synnex acquired the managed business solutions division of e4e, an ITes service provider located in

Bangalore Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...

in India. In 2012 Hyve Solutions announced a partnership with IBM and Zettaset to produce a bundled "turnkey" platform for

Hadoop Apache Hadoop () is a collection of open-source software utilities that facilitates using a network of many computers to solve problems involving massive amounts of data and computation. It provides a software framework for distributed storage ...

-based analytics targeted to the needs of small- and medium-sized businesses. Synnex acquired IBM's worldwide customer care business process outsourcing (BPO) services business on 11 September 2013. 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. On 5 October 2018, Convergys Corporation and Synnex announced that they have completed the merger. In 2019, Synnex sits at number 158 on the

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by '' Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...

listing. 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. The spinoff was completed on 1 December 2020, with Synnex shareholders getting one share of Concentrix for each share of Synnex they held. In July 2020, the

Republican National Convention The Republican National Convention (RNC) is a series of presidential nominating conventions held every four years since 1856 by the United States Republican Party. They are administered by the Republican National Committee. The goal of the Repu ...

's servers were hacked through Synnex. The company said it "could potentially be in connection" with the

Kaseya VSA ransomware attack On 2 July 2021, a number of managed service providers (MSPs) and their customers became victims of a ransomware attack perpetrated by the REvil group, causing widespread downtime for over 1,000 companies. Company Kaseya Limited is an America ...

that unfolded days prior. On 22 March 2021 it was announced that Synnex will merge with Tech Data for a sum of 7.2 billion USD, including debt. Synnex shareholders received 55% of the merged company. MiTAC Holdings Corp. and its affiliates, which collectively owns about 17% of Synnex shares as of 22 January 2021, voted their shares in favor of the transaction.

Merger with Tech Data

On September 1, 2021, Synnex completed a merger with Tech Data. This merger created a new company with $59.8 billion in revenue, TD Synnex. Through the combination of both companies, TD Synnex becomes the largest IT distributor, surpassing Ingram Micro. TD Synnex is led by former Tech Data CEO, Rich Hume.

References

{{Authority control Companies listed on the New York Stock Exchange Consulting firms established in 1980 Companies based in Fremont, California Information technology consulting firms of the United States International information technology consulting firms Outsourcing companies American companies established in 1980 Technology companies established in 1980 2021 mergers and acquisitions