TD SYNNEX (SNX) signs SCA with AWS and strengthens its digital offerings – January 18, 2022
TD SYNNEX (SNX – Free Report) recently signed a Strategic Collaboration Agreement (“SCA”) with Amazonit is (AMZN – Free Report), a subsidiary of Amazon Web Services (“AWS”), to invest in resources that will help develop advanced cloud solutions for its partners.
Amazon’s AWS offers more than 200 comprehensive services from data centers around the world. Its capabilities range from infrastructure technologies such as compute, storage, and databases to emerging technologies such as machine learning and artificial intelligence, data lakes and analytics, and the Internet of Things. .
AWS is the world’s most comprehensive and widely adopted cloud platform, used by millions of customers. According to the SCA, TD SYNNEX partners, including small and medium enterprises, public sector organizations and individual software vendors, will benefit from increased international exposure to sell their newly developed offerings integrated with TD SYNNEX’s advanced cloud technology. ‘AWS.
TD SYNNEX will expand its presence in newer and larger markets with an enhanced customer base. Its partner companies will be able to significantly expand their portfolio of digital solutions, either by transforming their existing applications or by creating something new, via Amazon’s fast and easily accessible cloud platform. This decision will reduce costs while accelerating innovation to achieve the targeted objectives of its partners.
Consecutive deal wins
It is remarkable that TD SYNNEX has enjoyed several consecutive deals since its inception, following the merger of SYNNEX and Tech Data Corporation in the first week of September 2021.
Recently, in December, TD SYNNEX’s wholly-owned subsidiary, Tech Data India, announced a partnership with Zscaler to enable its partners to purchase security solutions and services under the Zscaler Zero Trust Exchange platform directly from Tech Data India.
Earlier in October, former TD SYNNEX company Tech Data worked with Hewlett Packard Enterprise in Asia Pacific to expand its HPE GreenLake cloud services distribution in the region, giving partners access to a robust set of cloud services that help customers tackle their toughest business outcomes.
Earlier in October, former TD SYNNEX company Tech Data signed a distribution agreement with Freshworks Inc. to make the Freshworks product suite for business solutions available in the India region.
In September, TD SYNNEX partnered with Zscaler, allowing partners to purchase security solutions and services under the Zscaler Zero Trust Exchange platform directly from the company. In the same month, SNX signed an agreement with a leading Israeli software provider, Indeni, to leverage automated network security solutions.
Earlier in September, TD SYNNEX won its first distribution deal with Palo Alto Networks to distribute the latter’s cybersecurity solutions to customers based in India and SAARC.
TD SYNNEX is committed to driving its organic growth with more strategic acquisitions and closed deals that complement and expand its existing capabilities. The merger of TD SYNNEX with Tech Data is expected to be significantly accretive to TD SYNNEX’s bottom line. The agreement should bring strong synergies to the company’s turnover in the short term.
Zacks Ranking and Stocks to Consider
TD SYNNEX currently sports a Zacks Rank #1 (Strong Buy), while Amazon carries a Zacks Rank #3 (Hold).
Other top-ranked stocks in the broader IT and technology sector include the world’s largest provider of customer relationship management Selling power (RCMP – free report) and Hewlett-Packard (HPE – Free Report), each displaying a Zacks #1 rank. You can see the full list of today’s Zacks #1 Rank stocks here.
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