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TD SYNNEX (SNX) Inks Deal With Zscaler, Expands Portfolio
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TD SYNNEX’s (SNX - Free Report) wholly owned subsidiary, Tech Data India recently entered into a partnership agreement with the global cloud security leader, Zscaler (ZS - Free Report) . Per the deal, TD SYNNEX’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.
Enhances Security Portfolio
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. This can also enhance the available options for speeding up their migration journey to zero trust architecture.
Zscaler’s Zero Trust Exchange is a purpose-built cloud platform that reduces risks in digital businesses by ensuring a safer digital transformation than traditional virtual private networks and firewalls. It also allows direct, secure connections based on the trust built upon users’ identity and contexts such as their location, device’s security posture, the content being exchanged and the application being requested. Currently, the platform is operating across 150 data centers worldwide.
The latest partnership between TD SYNNEX’s Tech Data India and Zscaler reflects the reliability of the Zero Trust Exchange platform. This move will not only raise Zscaler’s global reach but also expand its channel partnership capabilities.
It is remarkable that TD SYNNEX has been benefiting from consecutive deal wins within 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 - Free Report) in September. Per the agreement, TD SYNNEX will distribute Palo Alto Networks’ cybersecurity solutions to the 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, it signed a strategic distribution agreement with the network security and automation solutions provider, EfficientIP, which provided EfficientIP’s DDI and DNS Security solutions to 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.
Last month, 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 - Free Report) . Per the agreement, the Telos solutions’ portfolio will be added to DLT Solutions’ channel ecosystem and selective federal-contract vehicles.
TD SYNNEX continues to look ahead to boost its organic growth with more strategic acquisitions and deal wins that complement and expand its existing capabilities. The merger of TD SYNNEX with Tech Data is expected to be significantly accretive to the former’s bottom line and bring the solid synergy benefits to its top line in the near term.
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TD SYNNEX (SNX) Inks Deal With Zscaler, Expands Portfolio
TD SYNNEX’s (SNX - Free Report) wholly owned subsidiary, Tech Data India recently entered into a partnership agreement with the global cloud security leader, Zscaler (ZS - Free Report) . Per the deal, TD SYNNEX’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.
Enhances Security Portfolio
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. This can also enhance the available options for speeding up their migration journey to zero trust architecture.
Zscaler’s Zero Trust Exchange is a purpose-built cloud platform that reduces risks in digital businesses by ensuring a safer digital transformation than traditional virtual private networks and firewalls. It also allows direct, secure connections based on the trust built upon users’ identity and contexts such as their location, device’s security posture, the content being exchanged and the application being requested. Currently, the platform is operating across 150 data centers worldwide.
The latest partnership between TD SYNNEX’s Tech Data India and Zscaler reflects the reliability of the Zero Trust Exchange platform. This move will not only raise Zscaler’s global reach but also expand its channel partnership capabilities.
TD SYNNEX Corp. Price and EPS Surprise
TD SYNNEX Corp. price-eps-surprise | TD SYNNEX Corp. Quote
Continues to Win Distribution Deals
It is remarkable that TD SYNNEX has been benefiting from consecutive deal wins within 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 - Free Report) in September. Per the agreement, TD SYNNEX will distribute Palo Alto Networks’ cybersecurity solutions to the 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, it signed a strategic distribution agreement with the network security and automation solutions provider, EfficientIP, which provided EfficientIP’s DDI and DNS Security solutions to 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.
Last month, 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 - Free Report) . Per the agreement, the Telos solutions’ portfolio will be added to DLT Solutions’ channel ecosystem and selective federal-contract vehicles.
TD SYNNEX continues to look ahead to boost its organic growth with more strategic acquisitions and deal wins that complement and expand its existing capabilities. The merger of TD SYNNEX with Tech Data is expected to be significantly accretive to the former’s bottom line and bring the solid synergy benefits to its top line in the near term.
Currently, SNX carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Palo Alto Networks carries a Zacks Rank #3, while Zscaler has a Zacks Rank #4 (Sell) and Telos carries a Zacks Rank #5 (Strong Sell).