SYNNEX to acquire The Minacs Group Pte Ltd. and integrate with Concentrix
(Thomson Reuters ONE) -
SYNNEX to acquire The Minacs Group Pte Ltd. and integrate with Concentrix
* Adds approximately $400M of revenue and $0.53 per share non-GAAP earnings
* Adds key clients across strategic verticals
* Expands Concentrix into Internet of Things (IoT) and Marketing Optimization
Services
Fremont, CA & Oshawa, ON. - July 11th, 2016 - SYNNEX Corporation (NYSE: SNX),
and Minacs today announced a definitive agreement in which SYNNEX will acquire
Minacs and integrate it into its Concentrix business segment. The purchase price
is approximately $420 million subject to closing adjustments.
This transaction is intended to strengthen domain expertise in Concentrix'
automotive industry vertical and accelerate Marketing Optimization and IoT
solutions with Minacs' proprietary technology. The transaction also provides
Concentrix more scale and reach to further serve its client base. As a result,
Concentrix is expected to strengthen its competitive advantages in the
marketplace.
"We believe this acquisition will enhance Concentrix' position as global leader
in business services," stated Kevin Murai, CEO and President of SYNNEX Corp.
"This strategic investment is expected to create even greater scale and a more
compelling value proposition for our clients and shareholders. This transaction
is also in line with our stated goals of margin expansion and diversification of
our revenue."
"Minacs has been able to establish itself as a high value unique player in
Business Services. Their investments in IoT and Marketing Optimization stand out
as solutions with growing market demand, which we believe we will be able to
leverage across our combined client base," said Chris Caldwell, President of
Concentrix. "This acquisition is intended to increase our speed to market of
these solutions and provide us new opportunities for expansion."
Anil Bhalla, CEO of Minacs, will stay with the combined company and join
Concentrix' senior executive staff. "I am confident that the combination of our
capabilities will present an even more compelling value proposition to the
marketplace," Bhalla said. "Across industries, clients can expect our shared
vision and strategic scale to help them solve bigger, more complex business
challenges."
It is anticipated that the transaction will close in late Q3 2016, subject to
the satisfaction of regulatory requirements and customary closing conditions.
Until the transaction is completed, the companies will continue to operate
independently.
About SYNNEX
SYNNEX Corporation (NYSE: SNX), a Fortune 500 corporation, is a leading business
process services company, optimizing supply chains and providing outsourced
services focused on customer relationship management. SYNNEX distributes a broad
range of information technology systems and products, and also provides systems
design and integration solutions. Founded in 1980, SYNNEX Corporation operates
in 26 countries around the world. Additional information about SYNNEX may be
found online at www.synnex.com.
About Concentrix
Concentrix, a wholly owned subsidiary of SYNNEX, has operations across 25
countries, with approximately 90 delivery centers. It has more than 70,000
employees servicing more than 400 clients in more than 40 languages. The company
has a large delivery footprint in India, the Philippines, Europe, Asia/Pacific,
North America and South America. Concentrix has expertise in 10 industries and
offers enhanced capabilities in advanced analytics, enabling technologies and
non-voice services. Concentrix delivers services by voice, mobile, social and
Web chat across multiple geographies. The company operates with a holistic view
that includes all customer touchpoints in an omni-channel approach. Concentrix
focuses on the following industries: banking and financial services, healthcare
and pharmaceutical, insurance, technology, consumer electronics, retail and e-
commerce, government and public sector, media and communications, automotive and
travel, transportation and tourism. For information and recent news, visit
www.concentrix.com.
About Minacs
Minacs is a leading outsourcing business solutions partner to global
corporations in the manufacturing, retail, telecom, technology, media and
entertainment, banking, insurance, healthcare, and public sectors. 21,000 Minacs
experts across 35 centers worldwide deliver customer experience, marketing, and
back office solutions to power superior business results for clients. Minacs is
a portfolio company of CX Partners and Capital Square Partners and was advised
by Rothschild in this divestiture. Visit www.minacs.com to learn more about
solutions for global enterprises and their customers.
Safe Harbor Statement
Statements in this news release 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, foresee, expect,
may, will, provide, could and should and the negative of these terms or other
similar expressions. These statements, including statements regarding the
expected timing of the transaction and the impact of the transaction on
Concentrix' and SYNNEX' business and operations, including the estimated
financial impact of the transaction, expectations that the transaction will
strengthen expertise, accelerate certain business solutions, allow Concentrix to
leverage certain aspects of the acquired businesses, strengthen its competitive
advantage and create a more compelling value proposition, 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, risks relating to Concentrix' ability to
successfully and timely close the acquisition, the impact of the acquisition on
Concentrix' and SYNNEX' operations and financial performance, Concentrix'
ability to compete effectively, and other risks and uncertainties which apply to
SYNNEX Corporation, which are detailed in our Form 10-K for the fiscal year
ended November 30, 2015 and subsequent SEC filings. Statements included in this
press release are based upon information known to SYNNEX Corporation as of the
date of this release, and SYNNEX Corporation assumes no obligation to update
information contained in this press release.
Non-GAAP Financial Information
SYNNEX has provided in this press release, information related to the projected
impact of the acquisition on the company's earnings per share on a non-GAAP
basis, as it excludes one-time acquisition related expenses, intangible
amortization and restructuring charges. This non-GAAP information provides
investors with an additional tool to evaluate the Company's operations. Because
this non-GAAP information is not calculated in accordance with GAAP, it may not
necessarily be comparable to similarly titled measures employed by other
companies. Non-GAAP financial measures should not be considered in isolation or
as a substitute for the comparable GAAP measures.
Forward-looking information relating to one-time acquisition related expenses,
intangible amortization and restructuring charges would be required to reconcile
the non-GAAP earnings per share information presented herein with GAAP earnings
per share. The factors that may impact SYNNEX' future one-time acquisition
related expenses, intangible amortization and restructuring charges are out of
its control and/or cannot be reasonably predicted, and therefore SYNNEX is
unable to provide such information without unreasonable effort.
Copyright 2016 SYNNEX Corporation. All rights reserved. SYNNEX, the SYNNEX Logo,
CONCENTRIX, and all other SYNNEX Company, product and services names and slogans
are trademarks or registered trademarks of SYNNEX Corporation. SYNNEX, the
SYNNEX Logo, and CONCENTRIX Reg. U.S. Pat. & Tm. Off. Other names and marks are
the property of their respective owners.
SNX-G
FOR IMMEDIATE RELEASE
Contact Info:
Jyllene Miller
SVP Marketing & Analyst Communications
Jyllene.Miller(at)concentrix.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Synnex Corporation via GlobeNewswire
[HUG#2027701]
Unternehmensinformation / Kurzprofil:
Datum: 11.07.2016 - 15:02 Uhr
Sprache: Deutsch
News-ID 482527
Anzahl Zeichen: 9587
contact information:
Town:
FREMONT
Kategorie:
Business News
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