TD SYNNEX is an American IT distribution company with a workforce of 22,000 in over 100 countries.
On September 1, 2021,
Tech Data
Tech Data Corporation (commonly referred to as Tech Data) was an American multinational distribution company specializing in IT products and services headquartered in Clearwater, Florida. It merged with competitor Synnex to form TD Synnex. Sy ...
completed a merger with
Synnex
Synnex was an American multinational corporation that provides information technology (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, Cali ...
creating TD SYNNEX, a new company with $59.8 billion in revenue. Through the combination of both companies, TD SYNNEX becomes the largest IT distributor, surpassing
Ingram Micro
Ingram Micro is an American distributor of information technology products and services. The company is based in Irvine, California, U.S. and has operations around the world.
History
Ingram Micro's origins trace back to the founding of distrib ...
. TD SYNNEX is led by former Tech Data CEO, Rich Hume.
Ownership
At closing former Synnex shareholders owned 55% of TD SYNNEX while
Apollo Global Management
Apollo Global Management, Inc. is an American global private-equity firm. It provides investment management and invests in credit, private equity, and real assets. As of March 31, 2022, the company had $512 billion of assets under management, ...
, the previous owner of Tech Data, owned 45%.
Revenue
With the merger of Tech Data and Synnex, TD SYNNEX becomes the largest IT distributor having a combined revenue of $59.8 billion, which surpasses Ingram Micro, whose 2020 revenue was $49.1 billion.
On January 11, 2022, TD SYNNEX reported the results of the first full quarter following the merger. TD SYNNEX reported fiscal year 2021 fourth quarter revenue of $15.61 billion.
Leadership
Rich Hume, former CEO of Tech Data, is CEO of TD SYNNEX. Former Synnex president and CEO, Dennis Polk, serves as TD SYNNEX’s executive chair of the board of directors.
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References
American companies established in 2021
Companies listed on the New York Stock Exchange