TD Synnex

Last updated
TD Synnex Corporation
Company type Public
Industry IT services, IT consulting
Predecessors
FoundedSeptember 1, 2021;3 years ago (2021-09-01)
Headquarters,
U.S.
Key people
  • Patrick Zammit (CEO)
  • Ann Vezina (chair)
Products
Services
RevenueIncrease2.svg US$58.5 billion (2024)
Increase2.svgUS$1.19 billion (2024)
Increase2.svgUS$689 million (2024)
Total assets Increase2.svgUS$30.3 billion (2024)
Total equity Decrease2.svgUS$8.04 billion (2024)
Number of employees
23,000 (2024)
Website tdsynnex.com
Footnotes /references
Financials as of November 30,2024. [1]

TD Synnex Corporation is an American IT distribution company with a workforce of 22,000 in over 100 countries. [2] It was formed in 2021 by the merger of Synnex and Tech Data. TD Synnex is led by CEO Patrick Zammit.

Contents

Ownership

At closing former Synnex shareholders owned 55% of TD Synnex while Apollo Global Management, the previous owner of Tech Data, owned 45%. [3]

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. [4] [5] On January 9, 2024, TD Synnex reported the results for 2023 fourth-quarter and full-year results reaching $57 billion in revenue. [6]

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. [5] [2] 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. [7]

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References

  1. "FY 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. January 24, 2025.
  2. 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.
  3. Coffey, Lauren (September 1, 2021). "Tech Data becomes TD Synnex after $8 billion merger officially closes". Tampa Bay Business Journal. Retrieved 2021-11-08.
  4. 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.
  5. 1 2 "TD Synnex". www.tdsynnex.com. Retrieved 2021-11-08.
  6. Bakshi, Akanksha. "TD Synnex Q4 Earnings Beat Estimates; Provides Upbeat Outlook". Benzinga. Retrieved 2022-02-07.
  7. "TD Synnex Announces Patrick Zammit to Become CEO" (Press release). Fremont, CA: Businessswire. 2024-06-20. Retrieved 2024-07-24.