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TD SYNNEX (SNX) Inks Deal With Indeni, Boosts Security Portfolio

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TD SYNNEX (SNX - Free Report) recently inked an agreement with Indeni, a leading Israeli software company to leverage automated network security solutions.

This contract strengthens TD SYNNEX’s Network Security portfolio further with the addition of a comprehensive suite of infrastructure automation solutions. This will offer more agility to its customer base as their network and security needs continue to evolve.

Through this collaboration, TD SYNNEX aims to provide enterprise solutions and State, local, and Education (SLED) solutions initially. This, in turn, will provide Indeni an opportunity to advance further by increasing its global presence in the field of security infrastructure automation platform.

TD SYNNEX has been benefiting from consecutive contract wins of late. The company signed a distribution contract with Palo Alto Networks (PANW - Free Report) to provide cybersecurity solutions to its customers based in India & SAARC (South Asian Association for Regional Cooperation) a week ago. This marked the company's first contract win, after its formation following the merger of SYNNEX and Tech Data Corporation in September this year.

Prior to its formation, TD SYNNEX’s subsidiary, SYNNEX, had collaborated with another leading security company — Proofpoint — with the same vision of cybersecurity solutions, in July this year. In the same month, it signed a distribution agreement with DTEN, an international leader for innovation and accessibility in video conferencing.

TD SYNNEX is a Fortune 200 company specialized in providing comprehensive logistics, integration services and technology solutions to its partners for enhancing their customer engagement strategies. It additionally offers financial incentives and assistance with renewal automation.

Hence, collaboration with a leading security infrastructure automation solutions provider will help the company strengthen global footprint via the extension of its security portfolio.

Zacks Rank & a Key Pick

TD SYNNEX currently carries a Zacks Rank #3 (Hold).

A better-ranked stock in the broader technology sector is Avnet (AVT - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term earnings growth rate of Avnet is pegged at 25.4%.

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