Q&A on TD SYNNEX

Who are SYNNEX?

Prior to the merger with Tech Data, SYNNEX Corporation (NYSE: SNX) was already a Fortune 200 corporation and a leading provider of distribution, systems design and integration services. The company was founded in 1980, and today operates in numerous countries throughout North and South America, Asia-Pacific, and Europe.

What happened exactly with Tech Data and SYNNEX?

On 1 September 2021, SYNNEX and Tech Data Corporation announced the successful completion of their merger. The combined company is now formally known as TD SYNNEX. Rich Hume, who was CEO of Tech Data has the same position in the merged company. Dennis Polk, who was CEO of SYNNEX, is Executive Chair of TD SYNNEX.

What were the terms of the agreement?

Tech Data Corporation was previously wholly owned by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (the “Apollo Funds”) and their co-investors. Under the terms of the merger agreement, Apollo Funds received an aggregate 44 million shares of common stock, net $1.1 billion in cash after giving effect to a $500 million equity contribution by Apollo and the refinancing of Tech Data net debt, and now own approximately 45 percent of TD SYNNEX.

How does TD SYNNEX position itself in the market?

This merger creates a leading global distributor and solutions aggregator that spans the entire IT ecosystem. TD SYNNEX will have a presence in over 100 countries all over the world, offering a comprehensive portfolio of high value products and services. Globally, the business has 22,000 employees who share a passion for bringing compelling technology products, services, and solutions to partners. Our role is to help our customers maximise the value of IT investments, demonstrate positive business outcomes, and unlock growth opportunities. We’re also a company that cares – about our partners, co-workers, investors, and the world around us. We’re committed to being a diverse and inclusive employer of choice, and a good corporate citizen.

Is Tech Data changing its name to TD SYNNEX?

Outside Europe and the Asia-Pacific, the company will be ‘TD SYNNEX’. In Europe, we will continue to go to market as ‘Tech Data’, while adding ‘a TD SYNNEX company’ to our name. This reflects the strong recognition and continuity for the Tech Data brand in the UK and Ireland and in Europe and, at the same time, introduces our new global name to the market.

What’s changing at Tech Data as a result of this merger?

Importantly for partners in the UK and Ireland – and across the whole of Europe – it is very much business as usual, as no integration work is required in our region. Our leadership team, strategy, and business priorities remain in place. As always, we are fully focused on helping your business to develop, accelerate and succeed.

What changes for me as a customer now?

For customers in the UK and Ireland, it is business as usual. There will be no changes to our structure, systems, tools, or platforms, which we continue to evolve in order to maximise the value you experience as a Tech Data business partner.

What future benefits will the merger bring to customers?

As part of a global distributor and solutions aggregator, Tech Data will be able to add even more value for partners and help you to develop and accelerate your business. The merger provides customers and vendors with unparalleled access to a global distribution platform with best-in-class product offerings in some of the largest and most profitable product segments. TD SYNNEX provides the ability to accelerate technology adoption, diversify revenue streams, create cross-selling opportunities, and bring to market comprehensive everything-as-a-service offerings.

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