TD Synnex

Last updated
TD Synnex Corporation
Company type Public
Industry IT services, IT consulting
FoundedSeptember 1, 2021;3 years ago (2021-09-01)
Headquarters,
U.S.
Key people
Rich Hume
(CEO) [1]
Dennis Polk
(Executive Chair of Board of Directors) [1]
Products
Services
Number of employees
22,000 (2021) [2]
Website tdsynnex.com

TD Synnex is an American IT distribution company with a workforce of 22,000 in over 100 countries. [3] It was formed in 2021 by the merger of Synnex and Tech Data. TD Synnex is led by former Tech Data CEO, Rich Hume. [4]

Contents

Ownership

At closing former Synnex shareholders owned 55% of TD Synnex while Apollo Global Management, the previous owner of Tech Data, owned 45%. [5]

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. [6] [7] On January 9, 2024, TD Synnex reported the results for 2023 fourth-quarter and full-year results reaching $57 billion in revenue. [8]

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. [7] [3] In November 2023, Patrick Zammit has been named chief operating officer, reporting to company CEO Rich Hume effective January 1.

In June 2024, the company announced that Patrick Zammit would assume the CEO role effective September 1, replacing Rich Hume who will remain on the TD Synnex board of directors. [9]

Related Research Articles

<span class="mw-page-title-main">Dell EMC</span> Computer storage business

Dell EMC is an American multinational corporation headquartered in Hopkinton, Massachusetts, and Round Rock, Texas, United States. Dell EMC sells data storage, information security, virtualization, analytics, cloud computing and other products and services that enable organizations to store, manage, protect, and analyze data. Dell EMC's target markets include large companies and small- and medium-sized businesses across various vertical markets. The company's stock was added to the New York Stock Exchange on April 6, 1986, and was also listed on the S&P 500 index.

<span class="mw-page-title-main">SanDisk</span> Brand of flash memory products of Western Digital

SanDisk LLC is an American multinational computer technology company based in Milpitas, California. It is known for its flash memory products, including memory cards and readers, USB flash drives, solid-state drives, and digital audio players. The company was founded in 1988 as SunDisk Corporation and renamed in 1995 as SanDisk Corporation; it assumed its current name in 2016 when it was acquired by Western Digital.

Jabil Inc. is an American multinational manufacturing company involved in the design, engineering, and manufacturing of electronic circuit board assemblies and systems, along with supply chain services, primarily serving original equipment manufacturers. It is headquartered in the Gateway area of St. Petersburg, Florida. It is one of the largest companies in the Tampa Bay area.

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. Founded as Micro D, Inc in 1979 in California by Geza Czige and Lorraine Meccathe, the company has grown significantly due to acquisitions and expansions into new markets.

<span class="mw-page-title-main">WESCO International</span> Holding company

Wesco International, Inc. is an American publicly traded Fortune 500 holding company for Wesco Distribution, a multinational electrical distribution and services company based in Pittsburgh, Pennsylvania.

<span class="mw-page-title-main">Affiliated Computer Services</span> Defunct American IT Company

Affiliated Computer Services Inc. (ACS) was a company that provided information technology services as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. ACS was based in Dallas, Texas. ACS was ranked at number 341 on the 2010 Fortune 500 list. Founded in 1988, by Darwin Deason, ACS operated in nearly 100 countries, generating over $6 billion annually. As of September 2009, ACS employed approximately 74,000 people.

<span class="mw-page-title-main">William Amelio</span> American business executive

William J. "Bill" Amelio is an American business executive who was the CEO of Lenovo. He was also the CEO of Avnet.

<span class="mw-page-title-main">Tech Data</span> U.S.-based technology company

Tech Data Corporation 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. Synnex is to be the primary owner. Tech Data provided a broad range of product lines, logistics capabilities and value-added services that enable technology manufacturers and resellers, such as Google, Apple, Cisco, Dell, Fortinet, Hewlett Packard Enterprise, HP Inc., IBM, Lenovo, LG, Microsoft, Sony, Trend Micro, Viewsonic, TP-Link and VMware, to deploy IT solutions.

Avnet, Inc. is a distributor of electronic components headquartered in Phoenix, Arizona, named after Charles Avnet, who founded the company in 1921. After its start on Manhattan's Radio Row, the company became incorporated in 1955 and began trading on the New York Stock Exchange in 1961. On May 8, 2018, Avnet changed stock markets to Nasdaq, trading under the same ticker AVT.

<span class="mw-page-title-main">Future Electronics</span> Canadian distribution company

Future Electronics Inc. is a distributor of electronic and electro-mechanical components headquartered in Pointe-Claire, Quebec.

<span class="mw-page-title-main">Virtusa</span> Information technology consulting company

Virtusa Corporation is an American-based global information technology services company that provides digital engineering and technology services for companies in the financial services, healthcare, communications, media, entertainment, travel, manufacturing, and technology industries worldwide. Virtusa's capabilities range across digital transformation, artificial intelligence, cloud computing, robotics, data analytics, and other technology consulting services to customers in 25+ countries in 50+ locations around the globe.

Dimension Data was a company specialising in information technology services. Based in Johannesburg, South Africa, the company maintained operations on every inhabited continent. Dimension Data focused on services including IT consulting, technical and support services, and managed services. The company was the official technology partner of the Tour de France, the Vuelta a España and also sponsored a team of the same name. In 2010, the company was fully acquired by Nippon Telegraph and Telephone (NTT). On 1 July 2019, all Dimension Data operations, excluding those in the Middle East and Africa, became part of NTT Ltd.

<span class="mw-page-title-main">Synnex</span> American information technology company

Synnex was an American multinational corporation that provided 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, California. As an information technology supply chain services company, it offered services to original equipment manufacturers, software publishers and reseller customers.

Pure Storage, Inc. is an American publicly traded technology company headquartered in Santa Clara, California, United States. It develops all-flash data storage hardware and software products. Pure Storage was founded in 2009 and developed its products in stealth mode until 2011. Afterwards, the company grew in revenues by about 50% per quarter and raised more than $470 million in venture capital funding, before going public in 2015. Initially, Pure Storage developed the software for storage controllers and used generic flash storage hardware. Pure Storage finished developing its own proprietary flash storage hardware in 2015.

<span class="mw-page-title-main">Virtual Computing Environment</span> American computer hardware brand

Virtual Computing Environment Company (VCE) was a division of EMC Corporation that manufactured converged infrastructure appliances for enterprise environments. Founded in 2009 under the name Acadia, it was originally a joint venture between EMC and Cisco Systems, with additional investments by Intel and EMC subsidiary VMware. EMC acquired a 90% controlling stake in VCE from Cisco in October 2014, giving it majority ownership. VCE ended in 2016 after an internal division realignment, followed by the sale of EMC to Dell.

Commvault Systems, Inc. is an American publicly traded data protection and data management software company headquartered in Tinton Falls, New Jersey. Commvault enterprise software can be used for data backup and recovery, cloud and infrastructure management, retention and compliance.

Aerohive Networks, Inc. was an American multinational computer networking equipment company headquartered in Milpitas, California, with 17 additional offices worldwide. The company was founded in 2006 and provided wireless networking to medium-sized and larger businesses.

<span class="mw-page-title-main">Dell Technologies</span> American multinational technology company

Dell Technologies Inc. is an American multinational technology company headquartered in Round Rock, Texas. It was formed as a result of the September 2016 merger of Dell and EMC Corporation.

<span class="mw-page-title-main">DXC Technology</span> American multinational IT services company

DXC Technology Company is an American multinational information technology (IT) services and consulting company headquartered in Ashburn, Virginia.

Sal Sferlazza is co-founder and CEO of NinjaOne. He is also the co-founder of several previous companies including Lasso Logic, PacketTrap, Anchor Networks, Boostingo and Realm Interactive.

References

  1. 1 2 "Corporate Leadership Team". TD Synnex. 12 November 2021.
  2. "Largo's Tech Data completes $8.3 billion merger, becomes TD Synnex". Tampa Bay Times. 1 September 2021.
  3. 1 2 Cridlin, Jay (September 1, 2021). "Largo's Tech Data completes $8.3 billion merger, becomes TD Synnex". Tampa Bay Times. Retrieved 2021-11-08.
  4. Kovar, Joseph F. (2021-09-01). "Done Deal: 5 Things To Know About The New TD Synnex". CRN. Retrieved 2021-11-08.
  5. Coffey, Lauren (September 1, 2021). "Tech Data becomes TD Synnex after $8 billion merger officially closes". Tampa Bay Business Journal. Retrieved 2021-11-08.
  6. Kovar, Joseph F. (2021-09-01). "It's Official: Synnex-Tech Data Is TD Synnex, The Industry's Largest IT Distributor". CRN. Retrieved 2021-11-08.
  7. 1 2 "TD Synnex". www.tdsynnex.com. Retrieved 2021-11-08.
  8. Bakshi, Akanksha. "TD Synnex Q4 Earnings Beat Estimates; Provides Upbeat Outlook". Benzinga. Retrieved 2022-02-07.
  9. "TD Synnex Announces Patrick Zammit to Become CEO" (Press release). Fremont, CA: Businessswire. 2024-06-20. Retrieved 2024-07-24.