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Last $83.21 USD
Change Today -0.63 / -0.75%
Volume 215.9K
SNX On Other Exchanges
New York
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

synnex corp (SNX) Snapshot

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52 Week High
05/21/15 - $83.98
52 Week Low
10/15/14 - $59.27
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Current Stock Chart for SYNNEX CORP (SNX)

synnex corp (SNX) Details

SYNNEX Corporation provides business process services to resellers, retailers, and original equipment manufacturers in the United States, Japan, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking equipment; consumer electronics; and complementary products. This segment also provides systems design and integration solutions comprising contract assembly services, including systems design, build-to-order, configure-to-order, and assembly capabilities; and value added services that consist of kitting, reconfiguration, asset tagging, and hard drive imaging services. The Concentrix segment offers business services that are focused on process optimization, customer engagement strategy, and back-office automation to clients in various industry verticals. This segment’s portfolio of services comprises end-to-end process outsourcing services. The company also provides logistics services consisting of outsourced fulfillment, virtual distribution, and direct ship to end-users; financing services comprising net terms, third party leasing, floor plan financing, letters of credit backed financing, and payment services; marketing services, such as direct mail, external media advertising, reseller product training, targeted telemarketing campaigns, trade shows, trade groups, database analysis, print on demand services, and Web-based marketing; online services; and technical support services. The company was formerly known as SYNNEX Information Technologies, Inc. and changed its name to SYNNEX Corporation in October 2003. SYNNEX Corporation was founded in 1980 and is headquartered in Fremont, California.

65,000 Employees
Last Reported Date: 04/7/15
Founded in 1980

synnex corp (SNX) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $608.7K
Chief Financial Officer
Total Annual Compensation: $414.4K
Chief Operating Officer and Director
Total Annual Compensation: $441.3K
President of North American Distribution
Total Annual Compensation: $441.3K
Executive Vice-President and President of Con...
Total Annual Compensation: $405.3K
Compensation as of Fiscal Year 2014.

synnex corp (SNX) Key Developments

SYNNEX Corporation Enters into an Amendment to its Credit Agreement

On May 21, 2015, SYNNEX Corporation announced that it has entered into an amendment to its credit agreement, initially dated as of November 27, 2013, with the lenders party thereto, Bank of America, N.A., as administrative agent, and certain United States subsidiaries of SYNNEX, as guarantors. Among other things, the credit agreement amendment amends the credit agreement by increasing the amount of the term loan commitment there under by $400.0 million, to $625.0 million, all of which has been fully advanced and which may be used to finance working capital, make capital expenditures, make permitted acquisitions and other lawful corporate purposes; increasing the amount of incremental commitments for revolving loans or term loans capable of being requested there under by $225.0 million, to $350.0 million; extending the maturity date for revolving loans and the existing term loan to five years from the date of the Credit Agreement Amendment, to May 21, 2020; decreasing the applicable margin on the rate of interest on loans borrowed under the Credit Agreement, which may now range, (A) in the case of LIBOR loans, from 1.50% per annum to 2.25% per annum based on SYNNEX' Consolidated Leverage Ratio and (B) in the case of base rate loans, from 0.50% per annum to 1.25% per annum based on SYNNEX' Consolidated Leverage Ratio; increasing the Consolidated Leverage Ratio that SYNNEX is required to maintain from 3.50 to 1.0, to 3.75 to 1.0; extending the period of time through which SYNNEX is required to maintain a fixed charge coverage ratio of not less than 1.20 to 1.0 through May 31, 2016, and thereafter in an amount not less than 1.25 to 1.0; and modifying the event of default provisions in connection with an event defined to be a change of control" so that such event will only be triggered upon the acquisition of a higher percentage of SYNNEX' shares, and not be triggered based on the composition of SYNNEX' board of directors. The credit agreement amendment also modifies the quarterly amortization payment schedule for repayment of the term loan, which is now repayable in an amount equal to: (a) for each of the first eight calendar quarters ending after the date of the credit agreement amendment, 1.25% of the initial principal amount of the term loan, (b) for each of the next four calendar quarters ending thereafter, 1.875% of the initial principal amount of the term loan, (c) for each calendar quarter ending thereafter, 2.50% of the initial principal amount of the term loan and (d) on the May 2020 maturity date of the term loan, the outstanding principal amount of the term loan.

SYNNEX Corporation Signs Distribution Agreement with Spectrum Business

SYNNEX Corporation has signed a distribution agreement with Spectrum Business, a division of Charter Communications, to offer its high-speed able-based internet and voice products to resellers and telecom agents buying through the IT channel. With this addition, SYNNEX continues to expand the geographic reach of its business cable practice through its MOBILITYSolv group, which provides end-to-end mobility and connectivity solutions to help resellers and telecom agents bring their customers solutions to increase employee productivity in a highly mobile world. By signing Spectrum Business, SYNNEX now covers the majority of the business cable markets in the US, significantly contributing to MOBILITYSolv group's goal of the charge in this segment of the IT market. Spectrum Business products available through SYNNEX include: High-speed cable-based internet; Business phone service; Optical Ethernet; and Fiber Internet. High-speed cable-based internet supports bandwidth-intensive tasks such as web conferencing, cloud computing, video streaming and large file transfers. Business phone service helps business owners keep in touch with customers and employees more efficiently with cost-effective and scalable tools. Offerings include standard business phone service with enhanced calling features as well as PRI and SIP Trunking support models. Optical Ethernet provides 5Mbps up to 1Gbps networking that can be scaled to the needs of businesses, delivered via a direct fiber optic connection. Fiber Internet provides 5Mbps up to 10Gbps internet access when symmetrical speeds are needed, delivered via a direct fiber optic connection.

SYNNEX Corp. Presents at 2015 GTDC Investor Conference, May-07-2015

SYNNEX Corp. Presents at 2015 GTDC Investor Conference, May-07-2015. Venue: New York Stock Exchange, 11 Wall Street, New York, NY 10005, United States. Presentation Date & Speakers: May-07-2015, Kevin M. Murai, Chief Executive Officer, President, Director and Chairman of Executive Committee, Marshall W. Witt, Chief Financial Officer.


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