Industry | IT services, IT consulting |
---|---|
Founded | 1980 |
Founders | Robert T. Huang |
Defunct | September 1, 2021 |
Fate | Merged with Tech Data |
Successor | TD Synnex |
Headquarters | , U.S. |
Key people | Dennis Polk (President & CEO) [1] |
Products | |
Services | |
Revenue | US$23.757 billion(2019) [2] |
US$813 million(2019) [2] | |
US$500 million(2019) [2] | |
Total assets | US$11.697 billion(2019) [2] |
Total equity | US$3.788 billion(2019) [2] |
Number of employees | 240,000 (2019) [2] |
Website | synnexcorp |
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. [3]
Originally founded as a technology hardware distributor, [4] 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. [5] The company is one of the major employers in Greenville, South Carolina. [5] On 21 December 2009, Synnex acquired Jack of All Games from Take-Two Interactive. [6] In December 2010 Synnex acquired the managed business solutions division of e4e, an ITes service provider located in Bangalore in India. [7]
In 2012 Hyve Solutions announced a partnership with IBM and Zettaset to produce a bundled "turnkey" platform for Hadoop-based analytics targeted to the needs of small- and medium-sized businesses. [8] Synnex acquired IBM's worldwide customer care business process outsourcing (BPO) services business on 11 September 2013. [9]
In June 2017, Synnex acquired the North and Latin American operations of Westcon-Comstor, along with 10% of the remaining part of Westcon (Westcon International) from Datatec for a reported $800 million. [10] [11]
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. [12]
In 2019, Synnex sits at number 158 on the Fortune 500 listing. [13]
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. [14] [15] The spinoff was completed on 1 December 2020, with Synnex shareholders getting one share of Concentrix for each share of Synnex they held. [16]
In July 2020, the Republican National Convention's servers were hacked through Synnex. The company said it "could potentially be in connection" with the Kaseya VSA ransomware attack that unfolded days prior. [17]
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. [18] 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. [19]
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. [20]
Compaq Computer Corporation was an American information technology company founded in 1982 that developed, sold, and supported computers and related products and services. Compaq produced some of the first IBM PC compatible computers, being the second company after Columbia Data Products to legally reverse engineer the BIOS of the IBM Personal Computer. It rose to become the largest supplier of PC systems during the 1990s before being overtaken by Dell in 2001. Struggling to keep up in the price wars against Dell, as well as with a risky acquisition of DEC, Compaq was acquired for US$25 billion by HP in 2002. The Compaq brand remained in use by HP for lower-end systems until 2013 when it was discontinued. Since 2013, the brand is currently licensed to third parties for use on electronics in Brazil and India.
Convergys Corporation was a corporation based in Cincinnati, Ohio, that sold customer management and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provided convergent billing and business support system (BSS) products and services including revenue management, product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They had approximately 130,000 employees across 33 countries.
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William J. "Bill" Amelio is an American business executive who was the CEO of Lenovo. He was also the CEO of Avnet.
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Concentrix is an American business services company specializing in customer engagement and business performance. Concentrix was a subsidiary of SYNNEX Corporation since 2006 and went public as an independent company on December 1, 2020. Concentrix is headquartered in Fremont, California.
Stream Global Services, was a BPO company acquired by Convergys through a definitive merger, together with more than 37,000 employees in 22 countries and 50 contact centers. The footprint of the company included countries across North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
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Mellanox Technologies Ltd. was an Israeli-American multinational supplier of computer networking products based on InfiniBand and Ethernet technology. Mellanox offered adapters, switches, software, cables and silicon for markets including high-performance computing, data centers, cloud computing, computer data storage and financial services.
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Datatec Limited, also known as Datatec Group, is an international ICT solutions and services group operating in more than 50 countries across North America, Latin America, Europe, Africa, Middle East, and Asia-Pacific. Through three core divisions, the Group offers Integration and Managed Services and Technology Distribution and Financial Services.
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TD SYNNEX is an American IT distribution company with a workforce of 22,000 in over 100 countries. It was formed in 2021 by the merger of Synnex and Tech Data. TD SYNNEX is led by former Tech Data CEO, Rich Hume.