TD Synnex explained

TD SYNNEX Corporation
Type:	Public
Key People:	Rich Hume ^[1] Dennis Polk ^[2]
Industry:	IT services, IT consulting
Num Employees:	22,000 ^[3]
Location City:	Fremont, California
Location Country:	U.S.

TD SYNNEX is an American IT distribution company with a workforce of 22,000 in over 100 countries.^[4] It was formed in 2021 by the merger of Synnex and Tech Data. TD SYNNEX is led by former Tech Data CEO, Rich Hume.^[5]

Ownership

At closing former Synnex shareholders owned 55% of TD SYNNEX while Apollo Global Management, the previous owner of Tech Data, owned 45%.^[6]

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.^[7] On January 9, 2024, TD SYNNEX reported the results for 2023 Fourth Quarter and Full Year Results reaching $57B in revenue.^[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.^[9] In November 2023, Patrick Zammit has been named Chief Operating Officer, reporting to company CEO Rich Hume effective January 1.

In June 2024, the company announced that Patrick Zammit would assume the CEO role effective September 1, replacing Rich Hume who will remain on the TD SYNNEX board of directors.^[10]

References

1. Web site: Corporate Leadership Team. TD SYNNEX. 12 November 2021.
2. Web site: Corporate Leadership Team. TD SYNNEX. 12 November 2021.
3. Web site: Largo's Tech Data completes $8.3 billion merger, becomes TD Synnex. Tampa Bay Times. 1 September 2021.
4. Web site: Cridlin. Jay. September 1, 2021. Largo's Tech Data completes $8.3 billion merger, becomes TD Synnex. 2021-11-08. Tampa Bay Times. en.
5. Web site: Kovar. Joseph F.. 2021-09-01. Done Deal: 5 Things To Know About The New TD Synnex. 2021-11-08. CRN. en.
6. Web site: Coffey. Lauren. September 1, 2021. Tech Data becomes TD Synnex after $8 billion merger officially closes. 2021-11-08. Tampa Bay Business Journal.
7. Web site: Kovar. Joseph F.. 2021-09-01. It's Official: Synnex-Tech Data Is TD Synnex, The Industry's Largest IT Distributor. 2021-11-08. CRN.
8. Web site: Bakshi. Akanksha. TD Synnex Q4 Earnings Beat Estimates; Provides Upbeat Outlook. 2022-02-07. Benzinga. English.
9. Web site: TD SYNNEX. 2021-11-08. www.tdsynnex.com. en.
10. . [hhttps://www.businesswire.com/news/home/20240619892207/en/TD-SYNNEX-Announces-Patrick-Zammit-to-Become-CEO TD SYNNEX Announces Patrick Zammit to Become CEO ]. Fremont, CA . Businessswire . 2024-06-20 . 2024-07-24.