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TD SYNNEX (SNX) Boosts Security Portfolio with Tugboat Partnership

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TD SYNNEX (SNX - Free Report) recently signed a distribution agreement with the leading security compliance solution provider, Tugboat Logic. Per the deal, TD SYNNEX’s business partners will be leveraging Tugboat Logic's leading security compliance and assurance SaaS platform.

Tugboat Logic’s Security Assurance Platform provides continuous compliance that helps organizations in automating the process of creating and managing an InfoSec program. Through artificial intelligence-powered Tugboat Logic’s solutions, enterprises can easily create InfoSec policy, manage and work collaboratively on audits, and respond to security questionnaire. This helps organizations gain the trust of customers, thereby assisting them in closing more deals.

Through this deal, TD SYNNEX’s security portfolio is likely to get a boost. This deal can offer more agility to its business partners as their network and security needs continue to evolve. This can also enhance their available options for speeding up the digital transformation journey.

It is remarkable that TD SYNNEX has been benefiting from consecutive deal wins just within a month of its formation following the merger of SYNNEX and Tech Data Corporation, in September first week. The company also recently partnered with the global cloud security leader Zscaler (ZS - Free Report) . Per the deal, TD SYNNEX’s business partners will be leveraging security solutions from Zscaler’s leading security platform, Zero Trust Exchange.

Prior to that, the newly-formed entity signed an agreement with a leading Israeli software provider, Indeni, to bank on automated network security solutions. It has also signed a distribution contract with Palo Alto Networks (PANW - Free Report) to provide cybersecurity solutions to its India & SAARC (South Asian Association for Regional Cooperation)-based customers.

Zacks Rank & Other Stock to Consider

Currently, TD SYNNEX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Another similarly-ranked stock in the broader technology sector is NVIDIA Corp. (NVDA - Free Report) . The long-term expected earnings growth rate for NVIDIA is currently pegged at 19.5%.