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SYNNEX Corporation SNX recently inked a major distribution deal with DTEN. Per the terms of the deal, SYNNEX will distribute DTEN’s video collaboration hardware across the United States.
Founded in 2015, DTEN builds innovative interactive displays that help teams connect, communicate and collaborate. Apart from video conferencing, DTEN’s devices facilitate content sharing as well as interactive whiteboarding. Its devices feature sleek and sustainable designs, which are easy to install and have a wireless set-up.
The company’s devices come with pre-installed Zoom Video Communications’ ZM Zoom Rooms software that offers a powerful and secure video conferencing and collaboration experience to teams. SYNNEX is currently offering DTEN’s DTEN D7, DTEN ON, DTEN GO with DTEN Mate, and DTEN ME devices through its extensive network of retail and reseller partners.
SYNNEX Corporation Price and Consensus
SYNNEX Corporation price-consensus-chart | SYNNEX Corporation Quote
Notably, the pandemic-induced work-from-home and online-learning wave is spurring demand for offsite-working, and learning hardware and software.Therefore, team collaboration tool manufacturers are enhancing their capacities to accommodate this demand spike, and are looking for channel partners and resellers to market and sell the products, which in turn, is helping SYNNEX fortify its business.
Backed by premier partner programs and technical knowledge expertise, SYNNEX enhances their customer-engagement strategies to bolster business development. Notably, the company offers a plethora of value-added services, ranging from demand generation to IT resource planning, and caters to more than 20,000 resellers based in numerous countries across North and South America, Asia-Pacific and Europe.
Key partnerships are also helping the company expand its product portfolio. The firm’s recent partnership with Ribbon Communications RBBN in January this year is anticipated to help Synnex grow its market share and partner base, and especially benefit from Ribbon’s long-term working relationship with Microsoft Corporation MSFT.
SYNNEX is riding high on solid growth in product areas, such as PCs, networking and cloud plus software-related solutions, which is contributing to the revenue acceleration of the Technology Solutions business. From a customer standpoint, strength in SMB vertical is a tailwind.
Moreover, IT spending across the world is slowly recovering and projected to reach $4.1 trillion in 2021, increasing 8.4% from 2020, per Gartner’s newest forecast. This spells good news for SYNNEX and will help maintain its standing as a leading IT design-to-distribution business process services company.
Currently, SYNNEX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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