TD Synnex

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TD SYNNEX Corporation
TypePublic
IndustryIT services, IT consulting
Founded2021; 1 year ago (2021)
Headquarters
Fremont, California & Clearwater, Florida
,
U.S.
Key people
Rich Hume
(CEO)[1] Dennis Polk
()[1]
Products
Services
Number of employees
22,000 (2021)[2]
Websitetdsynnex.com

TD SYNNEX is an American IT distribution company with a workforce of 22,000 people working in over 100 countries.[3] On September 1, 2021, Tech Data completed a merger with Synnex. This merger created 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. TD SYNNEX is led by former Tech Data CEO, Rich Hume.[4]

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 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.[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]

References[]

  1. ^ a b "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. ^ a b Cridlin, Jay (September 1, 2021). "Largo's Tech Data completes $8.3 billion merger, becomes TD Synnex". Tampa Bay Times. Retrieved 2021-11-08.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite web}}: CS1 maint: url-status (link)
  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. ^ a b "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.
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