11/22/2023 0 Comments Synnex merger tech dataAnd vice-versa.įor a quick look at some of the changes to expect, and what not to expect, click through the slideshow. While Urban declined to explicitly say that Synnex is better at some program or process, he did hint that when combining the best of the two companies there are a couple places where Tech Data’s staff, none of whom are slated to be laid off, will benefit from what Synnex has built. Urban, a former Tech Data executive who joined Synnex over two years ago, this week talked with CRN about the historic merger between Synnex and Tech Data, which will create the world’s largest IT distributor with an annual revenue of $57 billion and 22,000 employees, and said there will still be plenty of competition not only from the soon-to-be-second-largest distributor Ingram Micro, but from a host of smaller distributors worldwide. (Reuters) - IT solutions firm Synnex Corp said on Monday it will merge with peer Tech Data in a deal worth about 7.2 billion, including debt, creating one of the world’s biggest IT. We are excited to remain a part of the new company's continued success.Staying Calm About Distribution’s Biggest Merger Ĭoncerns about changes in the competitive environment and about impacts to specific market segments are likely overblown, according to Michael Urban, president of worldwide technology solutions distribution at Synnex. “This transaction will accelerate the momentum that was already underway by uniting two outstanding companies for greater scale and financial strength to lead the industry. “When we acquired Tech Data, we saw the tremendous potential for transformative growth and long-term value creation,” said Apollo Senior Partner and Co-Head of Private Equity Matt Nord and Apollo Partner Robert Kalsow-Ramos. Tech Data currently is wholly owned by funds managed by affiliates of Apollo Global Management, Inc. D&H is losing our business more and more. In the past 20 years we’ve gone from Ingram to Tech Data to D&H and now Synnex as a primary source. Apart from availability and price, the rep handing your account will make or break the distributor. We could not have reached this milestone without the hard work of our colleagues, and we look forward to working together with the SYNNEX team to seamlessly bring our companies together and to create meaningful value for all our stakeholders.” I think we’ve used every distributor in existence in 27 years we’ve been in business. 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. “Together, we will be able to offer our customers and vendors exceptional reach, efficiency, and expertise, redefining the experience and value they receive. “This is transformational for Tech Data, SYNNEX and the entire technology ecosystem,” said Rich Hume, Tech Data CEO. FREMONT, Calif., J/PRNewswire/ - SYNNEX Corporation (NYSE: SNX), a leading provider of distribution, systems design and integration services for the technology industry, today announced that, based on the voting results from its special meeting held today, SYNNEX stockholders have approved the previously announced merger agreement. The combined company, with approximately $57 billion in estimated pro forma annual revenues and a team of over 22,000 associates and colleagues will provide customers and vendors with expansive reach across products, services, and geographies to accelerate technology adoption.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |