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SYNNEX history
SYNNEX company history timeline
Public Company Incorporated: 1980 as COMPAC Microelectronics, Inc.
Compac started out exporting computer parts into Asian markets, but soon Huang became fearful of instability in the region and around 1983 focused the company on domestic markets, particularly the West Coast.
When Compac's owner began to have financial problems, Huang was able to find a new backer in the form of Taiwan-based MiTAC International, which acquired majority control of the company in 1992.
In 1993 Compac announced a plan to manufacture a line of Compac-branded PCs, leading Houston-based Compaq to sue over trademark infringement.
In 1993 it acquired some assets, including eight Novell-authorized training centers, from Microware Distributor Inc. that made it a top Novell-authorized distributor and spurred its growing VAR business.
In early 1994 the company, which was already strong on the East and West Coasts, opened a seventh distribution center, located near Houston, Texas, which helped to fill in coverage in the middle of the country.
Synnex landed its first manufacturing contract with a major tier-one computer company in 1995 and revenues ballooned to $730 million.
In 1998 Synnex launched certified channel assembly programs for both IBM and Hewlett-Packard to assemble PCs.
In 1999 Synnex was ranked as Hewlett-Packard's top channel partner.
1999 Opened Beijing, China BPO location
Synnex was flying high, on its way to recording more than $3.8 billion in sales in 2000 and taking steps to make an initial public offering (IPO) of stock.
2000 Expanded United States distribution with new locations
In 2001 it acquired Merisel Canada Inc. for $20 million.
Sales rebounded in 2002, totaling nearly $3.8 billion and net income improved to $28 million, but another attempt to take the company public was scrapped in 2002.
During 2002 Synnex was active in signing distribution agreements with other major vendors, such as Abit, Creative Labs, Intel, Seagate, and Storcase.
2002 Launched Mexico operations Significant US expansion
2002: Acquired Gates/Arrow Distributing
In 2003 Synnex was finally able to complete its IPO. In preparation the company was reincorporated in Delaware in October 2003 and changed its name to Synnex Corporation.
The offering was conducted in November 2003, with the company netting almost $49 million in what was considered a lukewarm reception from investors.
2003 November 25, initial public offering on New York Stock Exchange (NYSE), ticker symbol SNX
Employees: 2,676 Sales: $5.31 billion (2004) Stock Exchanges: New York Ticker Symbol: SNX NAIC: 541512 Computer Systems Design Services
The first step was taken in January 2005 when Hewlett-Packard authorized Synnex to sell its enterprise storage products.
2006 IT consumables (office products) expansion Opened Chengdu, China BPO location
2006: Acquired Azerty United (Canada)
2007 SYNNEX debuts on the Fortune 500 List, ranking #360
2007: Acquired PC Wholesale
2008 SYNNEX ranks #350 on Fortune 500 List Expansion of Concentrix US and Philippines locations Opened new facilities in Greenville, SC, and Olive Branch, MS
2008: Acquired New Age Electronics
On 21 December 2009, Synnex acquired Jack of All Games from Take-Two Interactive.
2009 Consolidation, expansion, and relocation of select US warehouses Expanded CE division
2011 Major expansion of distribution global footprint in Japan Significant expansion of Concentrix
2011: Acquired e4e (India, Scotland, United States)
In 2012 Hyve Solutions announced a partnership with IBM and Zettaset to produce a bundled "turnkey" platform for Hadoop-based analytics targeted to the needs of small- and medium-sized businesses.
Synnex acquired IBM's worldwide customer care business process outsourcing (BPO) services business on 11 September 2013.
2014: Acquired IBM Customer Care Business
2017 Significant expansion of security, networking and UCC business and expanded distribution footprint into Latin America
2017: Acquired Westcon-Comstor Americas
On 5 October 2018, Convergys Corporation and Synnex announced that they have completed the merger.
In 2019, Synnex sits at number 158 on the Fortune 500 listing.
The spinoff was completed on 1 December 2020, with Synnex shareholders getting one share of Concentrix for each share of Synnex they held.
On 22 March 2021 it was announced that Synnex will merge with Tech Data for a sum of 7.2 billion USD, including debt.
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SYNNEX competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| IBM | 1911 | $62.8B | 270,000 | 2,255 |
| Lam Research | 1980 | $14.9B | 14,100 | 153 |
| F5 | 1996 | $2.8B | 6,550 | 200 |
| NCR | 1884 | $2.8B | 36,000 | 66 |
| Micron Technology | 1978 | $30.8B | 49,000 | 667 |
| Dell | 1984 | $95.6B | 165,000 | 170 |
| Workday | 2005 | $8.4B | 12,500 | 188 |
| Rambus | 1990 | $556.6M | 819 | 41 |
| Qorvo | 2015 | $3.8B | 7,900 | - |
| Librato, Inc. | - | $13.0B | 63,800 | - |
SYNNEX history FAQs
Zippia gives an in-depth look into the details of SYNNEX, including salaries, political affiliations, employee data, and more, in order to inform job seekers about SYNNEX. The employee data is based on information from people who have self-reported their past or current employments at SYNNEX. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by SYNNEX. The data presented on this page does not represent the view of SYNNEX and its employees or that of Zippia.
SYNNEX may also be known as or be related to SYNNEX, SYNNEX Corporation, Synnex, Synnex Corp. and Synnex Corporation.