TD SYNNEX (SNX) Boosts Security Offerings With Seclore Deal
TD SYNNEX SNX has joined forces with Seclore to enable organizations to access complete solutions to solve their data protection challenges.
Seclore provides an open, automated, browser-based, data-centric security platform for enterprises. The platform enables organizations to find suitable solutions to classify, discover, protect and track enterprise data.
The latest distribution agreement with SNX will help Seclore expand its market reach. TD SYNNEX sells and distributes more than 30,000 technology products from more than 500 leading tech companies worldwide. Currently, the IT distributor and solutions aggregator for the IT ecosystem sells products to more than 20,000 resellers and retail customers in the United States, Canada and Japan.
TD SYNNEX Corp. Price and Consensus
TD SYNNEX Corp. price-consensus-chart | TD SYNNEX Corp. Quote
Meanwhile, the deal is likely to boost TD SYNNEX’s security portfolio and offer more agility to its business partners as their network and security needs continue to evolve. In December 2021, TD SYNNEX’s wholly owned subsidiary, Tech Data India, entered into a partnership agreement with the global cloud security leader, Zscaler ZS.
Per the deal, SNX’s business partners and organizations in India will be able to purchase security solutions from Zscaler’s leading security platform, Zero Trust Exchange, directly from Tech Data India. ZS’ Zero Trust Exchange is a purpose-built cloud platform that reduces risks in digital businesses by ensuring safer digital transformation than traditional virtual private networks and firewalls.
In November 2021, TD SYNNEX’s wholly owned subsidiary, DLT Solutions, entered into a distribution agreement with the leading provider of cyber, cloud and enterprise security solutions, Telos Corporation TLS. DLT Solutions is well-known as a premier reseller of software and hardware and a provider of professional services for the U.S. federal, state and local governments and the education market.
The distribution agreement has enabled Telos to further expand its reach in the U.S. public sector market. Per the agreement, Telos solutions’ portfolio has been added to DLT Solutions’ channel ecosystem and selective federal-contract vehicles.
It is remarkable that TD SYNNEX has been benefiting from consecutive deal wins within a few months of its formation, following the merger of TD SYNNEX and Tech Data Corporation in the first week of September 2021.
The merged company won its first distribution contract from Palo Alto Networks PANW in September. Per the agreement, TD SYNNEX will distribute Palo Alto Networks’ cybersecurity solutions among India & SAARC-based customers.
In the same month, SNX signed an agreement with a leading Israeli software provider, Indeni, to leverage automated network security solutions.
In October, TD SYNNEX signed a strategic distribution agreement with the network security and automation solutions provider, EfficientIP, which provided EfficientIP’s DDI and DNS Security solutions for its partner community of traditional value-added resellers, managed service providers and system integrators. The deal expanded the company’s technology portfolio and reinforced EfficientIP’s position in the DDI market.
While Palo Alto Networks currently carries a Zacks Rank #2 (Buy), TD SYNNEX, Zscaler and Telos each carry a Zacks Rank #3 (Hold). Shares of PANW, SNX, ZS and TLS have plunged 11.5%, 20.5%, 53% and 52.7%, respectively, year to date. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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