Key Developments: SYNNEX Corp (SNX)
43.72USD
18 Jun 2013
$0.78 (+1.82%)
$42.94
$43.05
$43.94
$42.98
244,517
192,825
$43.94
$30.70
Latest Key Developments (Source: Significant Developments)
SYNNEX Corp and Verizon Communications Inc's Verizon Enterprise Solutions Team To Create Holistic Business Solutions For Channel
SYNNEX Corp announced that it has signed a strategic distribution alliance agreement with Verizon Enterprise Solutions, a business unit of Verizon Communications, Inc. As part of SYNNEX MOBILITYSolv's Connect, Move and Control strategy, participating providers are able to offer their customers a robust and expansive portfolio of end-to-end solutions that includes Verizon`s networks, advanced communications, cloud, applications, mobility and machine-to-machine offerings. Full Article
SYNNEX Corp Announces Closing Of Acquisition Of Supercom Canada Ltd
SYNNEX Canada Limited, a wholly-owned subsidiary of SYNNEX Corp, announced the completion of the definitive agreement announced on March 6, 2013 to acquire substantially all of the assets of Supercom Canada Ltd. (Supercom), a Canadian distributor of IT and consumer electronics products and services, effective April 15, 2013. Full Article
SYNNEX Corp Announces Appointment Of Marshall W. Witt As Chief Financial Officer
SYNNEX Corp announced that it has appointed Marshall W. Witt as Chief Financial Officer (CFO) of the Company effective April 8, 2013. Mr. Witt will be assuming the role from Thomas Alsborg who announced his retirement last year, and will report directly to Kevin Murai, President and Chief Executive Officer (CEO) of SYNNEX Corporation. Full Article
SYNNEX Corp Issues Q2 2013 Guidance; Earnings Guidance Below Analysts' Estimates
SYNNEX Corp announced that for the second quarter of 2013, it expects revenue to be in the range of $2.425 billion to $2.525 billion, net income to be in the range of $29.8 million to $31.0 million and diluted earnings per share (EPS) to be in the range of $0.78 to $0.82. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $2.505 billion, net income of $34.9 million and EPS of $0.92 for the second quarter of 2013. Full Article
SYNNEX Corp's SYNNEX Canada Announces Agreement To Acquire Supercom Canada Ltd.
SYNNEX Canada Limited, a wholly owned subsidiary of SYNNEX Corp, announced that it has signed a definitive agreement to acquire substantially all of the assets of Supercom Canada Ltd. (Supercom), a Canadian distributor of IT and consumer electronics products and services. Pursuant to the asset purchase agreement, SYNNEX Canada will pay a purchase price of approximately CAD36.5 million in cash. This includes approximately CAD4.5 million in deferred payments, subject to certain post-closing conditions, payable within 18 months. In connection with the assets acquired, SYNNEX Canada will assume approximately CAD30.3 million in working capital debt. Expected goodwill and intangibles from the transaction will be approximately CAD10 million. The transaction, which is subject to regulatory and other approvals, is expected to close in April 2013. As part of the transaction, Mr. Luk has agreed to join SYNNEX Corporation as Senior Vice President, Partner Advocacy reporting directly to Kevin Murai. He will own and further develop key vendor and customer partnerships for the U.S., Canada, and Japan and assist in the integration of the businesses. Full Article
Faruqi & Faruqi, LLP Launches Investigation Against SYNNEX Corp For Potential Breaches Of Fiduciary Duties By Board Of Directors
Faruqi & Faruqi, LLP, national securities firm headquartered in New York City, announced that it is investigating the Board of Directors of SYNNEX Corp (SYNNEX or the Company) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders` approval for the Company`s 2013 Stock Incentive Plan. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on February 22, 2013, the Board of Directors recommends that SYNNEX shareholders vote to approve the Company`s 2013 Stock Incentive Plan. 1,696,409 shares would be subject to the 2013 Plan. The proxy also recommends that shareholders approve an advisory vote on Executive Compensation. Full Article
SYNNEX Corp Signs US Distribution Agreement With Avaya
SYNNEX Corp announced that it has signed a US distribution agreement with Avaya to provide opportunities for its data-centric resellers to capture unified communications (UC) opportunities through its CONVERGESolv Secure Networking group. Leveraging Avaya's strength as a global provider of business collaboration and communications solutions, along with SYNNEX existing line of complementary vendor solutions, the agreement helps drive a comprehensive approach to collaborative communications, bringing the power of premise networking, UC, cloud and mobility into one delivery to the channel. Full Article
SYNNEX Corp Issues Q1 2013 Guidance; Revenue Guidance Below Analysts' Estimates
SYNNEX Corp announced that for the first quarter of 2013, it expects revenue to be in the range of $2.38 billion to $2.48 billion, Net income to be in the range of $32.2 million to $33.4 million and Diluted earnings per share (EPS) to be in the range of $0.85 to $0.89. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $2.52 billion, net income of $33.3 million and EPS of $0.88 for the first quarter of 2013. Full Article
SYNNEX Corp's New Age Electronics Announces Authorization to Distribute Kindle Products to Retailers
New Age Electronics, a division of SYNNEX Corp, announced that it has been authorized to distribute Kindle products and accessories, including Kindle, Kindle Paperwhite, Kindle Fire, Kindle Fire HD and Kindle Fire HD 8.9”, to retailers. Full Article
Beats by Dr. Dre Selects SYNNEX Corp's New Age Electronics As Exclusive U.S. Distributor To Expand Its Collection Of Authentic
New Age Electronics, a distributor of Consumer Electronics products and services and a division of SYNNEX Corporation, announced that it has been selected by Beats by Dr. Dre to distribute its collection of high-quality headphones and Beats Audio HD sound systems through New Age Electronics` retail channel exclusively throughout the United States. Beats by Dr. Dre determines which New Age Electronics retailers comprise this exclusive authorized-only group. Full Article
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