Yahoo Finance TD SYNNEX's (SNX) Tech Data & Instructure Tie Up for LMS
TD SYNNEX's SNX Tech Data announced that it has entered a partnership with Salt Lake City-based Learning Management Systems ("LMS") developer — Instructure INST — to leverage enhanced learning solutions in India.
Founded in 2008, the education technology company is the developer of Canvas and Mastery Connect, an assessment management system. The company designs the world’s smartest classrooms and has a customer base of more than 6,000 globally. It has over 6 million concurrent users, while its products are utilized by nearly 7,000 organizations globally.
Through the latest partnership, Tech Data intends to ensure ground-level support and assistance among its Indian partners. Per the deal, Instructure will utilize Tech Data’s extensive network of partners and expertise in the local Indian market to offer Canvas solutions to the subcontinent’s education sector.
Instructure’s Learning Platform includes solutions like Canvas and Impact that offer learning management, assessment, content, online programs, and analytics designed into an easy-to-implement and use system. The company’s Canvas portfolio comprises Canvas LMS, video engagement with Canvas Studio, and a branded course catalog system by Canvas Catalog. The company’s Impact solution is built to help teachers and students adopt educational technology to promote deeper engagement with learning.
TD SYNNEX Corp. Price and Consensus
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TD SYNNEX will enable its partner educational institutions and corporations to utilize Canvas, the fastest growing LMS platform in the world, through this deal. Lately, the company has entered into several other partnerships with various companies. Such partnerships are undoubtedly helping the company to expand its product portfolio.
In fact, the company forged a partnership with the largest independent publicly-traded business intelligence company, MicroStrategy MSTR, in the North American region in January this year.
Through this contract, TD SYNNEX has enhanced its portfolio of Internet of Things, data, and analytics solutions. MicroStrategy’s comprehensive software platform included features like self-service data discovery, enterprise reporting, mobile applications, and embedded analytics. These features enabled TD SYNNEX’s partners to offer end-to-end enterprise analytics driving end-user adoption and meeting data-driven business culture demand.
In the same month, the company entered a strategic collaboration agreement with Amazon’s AMZN subsidiary, Amazon Web Services (“AWS”), to invest in resources that will help in developing advanced cloud solutions for its partners.
This agreement enabled TD SYNNEX partners, including small and medium-sized businesses, public sector organizations, and individual software vendors, to get an improved international exposure to sell their newly developed offerings integrated with Amazon’s AWS advanced cloud technology.
Zacks Rank
TD SYNNEX and Instructure currently carry a Zacks Rank #3 (Hold), while MicroStrategy and Amazon carry a Zacks Rank of 5 (Strong Sell). Shares of SNX, AMZN and MSTR have slumped 22%, 32.3% and 67.1%, respectively, in the past year. Shares of INST have climbed 6.9% in the same time frame.
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