SYNNEX and Tech Data Merge to Become TD SYNNEX – the Largest IT Distributor Ever

Today, SYNNEX and Tech Data Corporation announced their successful merger. Now the company is named TD SYNNEX, headed by CEO Rich Hume. The CEO of former SYNNEX, Dennis Polk, is now the Executive Chair of the TD SYNNEX Board of Directors.

The management is very happy with the completed merger and integration of businesses. TD SYNNEX is now a $59.8 billion entity as the industry’s largest IT distributor in 30 years. Headquartered in Clearwater, Florida, TD SYNNEX has a talented team of 22,000 workers delivering customers and vendors exception IT solutions.

The company has pushed its rival Ingram Micro to the number two position with this historic merger.

Being an integral part of the IT industry, the company has the ability to produce best-in class products and the most profitable product segments.

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The merger of publicly traded SYNNEX and private-owned Tech Data was announced on March 22, 2021. “TD SYNNEX is uniquely positioned in today’s relentlessly transforming technology ecosystem,” stated Rich Hume.

Prior to the merger, Tech Data ranked number two with $37.6 billion in revenue and SYNNEX ranked no.3 with the revenue of $22.2 billion as per the company records.

Hume mentioned that “Just as TD SYNNEX plays a vital role helping transform the technology landscape, we have an equally important responsibility to have a positive impact on the world.

The company also focuses on corporate social responsibility and creates a positive impact on the world.

Future Ahead for TD SYNNEX

The shareholders of SYNNEX own 55% of the company adding more than 150,000 customers, 1500 vendors, and 22,000 employees. Tech Data was formerly owned by Apollo Global Management and their co-investors. Apollo Global Management owns 45% of the company.

The merged company TD SYNNEX is determined to accelerate technology updates, technology adoption, identifies cross-selling opportunities, diversify and offer comprehensive market opportunities.

John Kolimago, Executive Vice President, is very excited to head the merged company. He is quite optimistic about the acquisition that has expanded their solutions and support for customers. Kolimago is also the general manager of Avnet Technology Solutions which a long time tech partner of Tech Data. Kolimago believes that TD SYNNEX will also offer benefits to Avent Technology Systems.

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The management believes that it would be able to handle the supply challenges. The merger will create an extensive distribution network offer more locations to fulfill the needs of the customers. Though the merger increases the uncertainty levels, CEOs of other companies are curious to see how the company will create new businesses.

CEO of iCorps Technologies, Mike Hadley, is looking forward to seeing what TD SYNNEX can give them. The primary distributor of iCorp Technologies is Ingram Micro.

With this merger, the company is looking forward to a great deal. The company does 95% of its business with Ingram Micro. Hadley says it’s all about margin. Other companies are also looking forward to dealing with the new TD SYNNEX.

If after become big, they can offer more market share and better relationships with vendors; nothing can be better than that. It can become a significant differentiator in the IT industry. The acquisition has overall improved their financial condition and IT products, and customer services.