SYNNEX Canada Announces Agreement to Acquire Supercom Canada Ltd.

  SYNNEX Canada Announces Agreement to Acquire Supercom Canada Ltd.

Business Wire

TORONTO -- March 6, 2013

SYNNEX Canada Limited, a wholly-owned subsidiary of SYNNEX Corporation
(NYSE:SNX), announced today that it has signed a definitive agreement to
acquire substantially all of the assets of Supercom Canada Ltd. (Supercom), a
leading Canadian distributor of IT and consumer electronics products and
services. The acquisition of Supercom enriches SYNNEX Canada’s existing
product and service offerings, thereby enhancing its ability to serve
customers throughout Canada.

“Over the past twenty-four years, Frank Luk and Supercom have built an
enviable reputation in the Canadian IT market,” stated Kevin Murai, President
and CEO of SYNNEX Corporation. “We are excited to have the Supercom team as
part of our Company.”

“We are delighted to join SYNNEX Canada,” said Frank Luk, President of
Supercom. “I want to thank all my employees, vendor partners and customers for
their loyalty and support to Supercom and I look forward to continuing to work
with them under the combined SYNNEX Canada.”

“With the complementary partnerships and capabilities Supercom brings, SYNNEX
Canada looks forward to better serving its enhanced base of customer and
vendor partners,” said Mitchell Martin, President of SYNNEX Canada Limited. “I
look forward to partnering with Frank to make SYNNEX the largest distributor
in Canada.”

Pursuant to the asset purchase agreement, SYNNEX Canada will pay a purchase
price of approximately CDN $36.5 million in cash. This includes approximately
CDN $4.5 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 CDN $30.3 million in working capital
debt. Expected goodwill and intangibles from the transaction will be
approximately CDN $10 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.

Supercom Canada has over 250 employees and generated approximately CDN $440
million in its most recent fiscal year ending June 30, 2012.

The acquisition is expected to be immediately accretive to SYNNEX earnings
prior to any charges, which are expected to occur in the first year after the
close of the transaction.

About SYNNEX Canada Limited

SYNNEX Canada Limited, a wholly-owned subsidiary of SYNNEX Corporation (NYSE:
SNX), is a leading distributor of technology products to resellers and system
builders across Canada. Committed to driving growth and profitability for its
resellers and vendor partners, SYNNEX Canada offers great product selection at
competitive prices and supports customers with dedicated sales resources,
unique financial services, expert technical support, progressive e-business
tools and fast and accurate delivery with warehouses in key cities. For more
information, visit

About SYNNEX Corporation

SYNNEX Corporation (NYSE: SNX), a Fortune 500 corporation, is a leading
business process services company, servicing resellers, retailers and original
equipment manufacturers in multiple regions around the world. The Company
provides services in IT distribution, supply chain management, contract
assembly and business process outsourcing. Founded in 1980, SYNNEX employs
approximately 11,000 full-time and part-time associates worldwide. Additional
information about SYNNEX may be found online at

Safe Harbor Statement

Statements in this release regarding SYNNEX Corporation or SYNNEX Canada
Limited, which are not historical facts, are “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These forward-looking statements
may be identified by terms such as believe, expect, may, will, provide, could
and should and the negative of these terms or other similar expressions. These
statements, including statements regarding general success and anticipated
benefits of the acquisition, enhanced product and service offerings, becoming
the largest distributor in Canada, ability to leverage the strengths,
partnerships and capabilities of the companies, timing of the acquisition,
extent and timing of acquisition-related payments and charges and assumed
working capital debt, expected goodwill and intangibles, expectations as to
the acquisition being accretive to earnings and the related timing, and the
operation, services and growth of the combined SYNNEX Canada and Supercom, are
subject to risks and uncertainties that could cause actual results to differ
materially from those discussed in the forward-looking statements. These risks
and uncertainties include, but are not limited to: the ability to successfully
integrate Supercom, retention of distribution rights with manufacturers, loss
of vendors and suppliers or customers as a result of the acquisition, market
acceptance and product life of the platforms sold by Supercom, general
economic conditions and any weakness in IT and consumer electronics spending,
competitive conditions in our industry, our ability to gain market share,
changes in foreign currency exchange rates, risks associated with our
international operations, and other risks and uncertainties detailed in our
Form 10-K for the fiscal year ended November 30, 2012 and from time to time in
SYNNEX Corporation’s SEC filings. Statements included in this press release
are based upon information known to SYNNEX Corporation and SYNNEX Canada
Limited as of the date of this release, and SYNNEX Corporation and SYNNEX
Canada Limited assume no obligation to update information contained in this

Copyright 2013 SYNNEX Corporation. All rights reserved. SYNNEX, the SYNNEX
Logo and all other SYNNEX company, product and services names and slogans are
trademarks or registered trademarks of SYNNEX Corporation. SYNNEX and the
SYNNEX Logo Reg. U.S. Pat. & Tm. Off. Other names and marks are the property
of their respective owners.



SYNNEX Corporation
Deirdre Skolfield, CFA, 510-668-3715
Director, Investor Relations
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