TD SYNNEX (SNX) to Distribute Meta's New Business Products
TD SYNNEX SNX announced on Wednesday that it has been selected as an exclusive North American distributor for Meta Platforms’ META (formerly Facebook) new suite of business products. The new product line from Meta will include tailored business solutions aimed at providing enhanced collaboration, training, creativity and design capabilities powered by the Metaverse technology.
Under the distribution agreement, TD SYNNEX will distribute the Meta Quest 3 headset and related software, which will be unveiled during the ongoing TD SYNNEX Inspire Conference that will run from Oct 4 to Oct 7 in Greenville, SC. The global IT distributor revealed that Meta Quest 3 would be available to its partners beginning Oct 10, 2023.
Additionally, the distribution agreement extends to Meta’s other generative artificial intelligence products, including stickers and editing tools, as well as AI-powered smart glasses, all launched last week. With the latest expanded collaboration, TD SYNNEX will be able to empower its distribution partners and Independent Software Vendors to drive new businesses and further their channel capabilities across the North American region.
TD SYNNEX Corp. Price and Consensus
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TD SYNNEX’s sustained focus on partnerships with other tech companies is helping it enhance its product portfolio and expand its global footprint.
In January 2023, the company unlocked a Microsoft MSFT Azure integrated fraud defense solution designed for customers from small and medium businesses (SMBs) amid growing cyber threat vulnerabilities. The newly released fraud defense Click-to-Run solution raises security postures and lowers potential risks in daily cloud operations via phishing prevention, proactive alerts, warning signals and more. It enables multi-layer defense against unprecedented security risks within cloud environments.
Incorporating the Microsoft Azure Active Directory, TD SYNNEX’s SMB solution enables small and medium-sized businesses to enforce Conditional Access policies, enabling organizations to enhance the way users control access to corporate resources. Microsoft’s Azure Active Directory, part of Microsoft Entra, is an enterprise identity service that provides single sign-on, multifactor authentication and conditional access to guard against 99.9% of cybersecurity attacks. SNX’s pre-configured solution further allows organizations to exploit Azure's built-in cost management features.
In December 2022, SNX strengthened its collaboration with Alphabet Inc. GOOGL by expanding its cloud solution portfolio with Alphabet’s Google Cloud offering in nearly 60 nations in the Latin American, European and Asian regions.
Per the agreement, TD SYNNEX enables enterprise customers from 60 additional global markets, including Brazil, Mexico, Argentina and Uruguay, to gain access to its cloud experts and solution portfolio incorporated with Google Cloud’s capabilities in artificial intelligence, machine learning, data analytics, infrastructure, collaboration and many more. This allows business partners to generate positive business outcomes in the cloud market.
Currently, TD SYNNEX, Meta, Microsoft and Alphabet each carry a Zacks Rank #3 (Hold). Shares of SNX, META, MSFT and GOOGL have rallied 3.2%, 154%, 33% and 53.3%, respectively, year to date. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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