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TD SYNNEX's (SNX) Shyft Buys IT Refurbishment Expert Cokeva
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TD SYNNEX Corporation’s (SNX - Free Report) wholly owned subsidiary, Shyft Global Services, recently sealed a significant acquisition, welcoming Cokeva, Inc. to its fold. Cokeva, a renowned leader in the repair, test and refurbishment of IT equipment, brings to TD SYNNEX an illustrious history of delivering top-tier technology repair and supply-chain solutions.
SNX Strengthens Footprint in the IT Repair Market
The acquisition fortifies Shyft’s expertise, particularly in depot repair services, and opens new doors for its clientele by integrating Cokeva’s robust operations in Roseville, CA. This 220,000-square-foot facility, boasting certifications for ISO 9001:2015 Quality Management Systems and maintaining ISO 5/Class 100 cleanroom standards, signifies a pivotal addition to TD SYNNEX subsidiary’s global landscape.
Ron Brinckerhoff, the senior vice president of Shyft, emphasized the acquisition's value in enhancing technology services by integrating Cokeva's experienced repair professionals and another world-class facility into the TD SYNNEX division’s portfolio.
Established in 1989, Cokeva has excelled in high-complexity IT repair and refurbishment markets, earning a reputation for exceptional customer service, quality and sustainability. Ann Nguyen, the CEO of Cokeva, expressed confidence in the synergy of values and services between Cokeva and Shyft, highlighting the alignment in customer commitment and technology lifecycle services.
Shyft's role as a go-to repair partner for leading OEMs across various industries positions this acquisition as a strategic move. Brinckerhoff emphasized the integration's value in furthering Shyft's commitment to global sustainability, showcasing a broader circular economy approach and delivering flexible, eco-conscious repair solutions.
This acquisition showcases Shyft's dedication to enhancing service quality, strengthening its footprint in IT repair and advancing its global sustainability agenda. It stands as a milestone underscoring Shyft's commitment to delivering top-tier repair services and sustainable solutions in the tech industry.
Expansion Through Partnerships
TD SYNNEX’s sustained focus on partnerships with other tech companies is helping it enhance its product portfolio and expand its global footprint. This Zacks Rank #3 (Hold) company’s most notable partnerships over the past year are with Meta Platforms (META - Free Report) , Microsoft (MSFT - Free Report) and Alphabet (GOOGL - Free Report) .
In October 2023, Meta Platforms selected TD SYNNEX as an exclusive North American distributor for its new suite of business products, including the newly launched Meta Quest 3 headset and other generative artificial intelligence (AI) products such as stickers, editing tools and smart glasses. Other new product lines from Meta Platforms will include tailored business solutions aimed at providing enhanced collaboration, training, creativity and design capabilities powered by the Metaverse technology.
In January 2023, the company unlocked a Microsoft Azure integrated fraud defense solution designed for customers from small and medium businesses (SMBs) amid growing cyber threat vulnerabilities. The 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.
Prior to that, in December 2022, SNX strengthened its collaboration with Alphabet by expanding its cloud solution portfolio with the Google Cloud offering in nearly 60 nations in the Latin American, European and Asian regions.
Image: Shutterstock
TD SYNNEX's (SNX) Shyft Buys IT Refurbishment Expert Cokeva
TD SYNNEX Corporation’s (SNX - Free Report) wholly owned subsidiary, Shyft Global Services, recently sealed a significant acquisition, welcoming Cokeva, Inc. to its fold. Cokeva, a renowned leader in the repair, test and refurbishment of IT equipment, brings to TD SYNNEX an illustrious history of delivering top-tier technology repair and supply-chain solutions.
SNX Strengthens Footprint in the IT Repair Market
The acquisition fortifies Shyft’s expertise, particularly in depot repair services, and opens new doors for its clientele by integrating Cokeva’s robust operations in Roseville, CA. This 220,000-square-foot facility, boasting certifications for ISO 9001:2015 Quality Management Systems and maintaining ISO 5/Class 100 cleanroom standards, signifies a pivotal addition to TD SYNNEX subsidiary’s global landscape.
Ron Brinckerhoff, the senior vice president of Shyft, emphasized the acquisition's value in enhancing technology services by integrating Cokeva's experienced repair professionals and another world-class facility into the TD SYNNEX division’s portfolio.
TD SYNNEX Corporation Price and Consensus
TD SYNNEX Corporation price-consensus-chart | TD SYNNEX Corporation Quote
Established in 1989, Cokeva has excelled in high-complexity IT repair and refurbishment markets, earning a reputation for exceptional customer service, quality and sustainability. Ann Nguyen, the CEO of Cokeva, expressed confidence in the synergy of values and services between Cokeva and Shyft, highlighting the alignment in customer commitment and technology lifecycle services.
Shyft's role as a go-to repair partner for leading OEMs across various industries positions this acquisition as a strategic move. Brinckerhoff emphasized the integration's value in furthering Shyft's commitment to global sustainability, showcasing a broader circular economy approach and delivering flexible, eco-conscious repair solutions.
This acquisition showcases Shyft's dedication to enhancing service quality, strengthening its footprint in IT repair and advancing its global sustainability agenda. It stands as a milestone underscoring Shyft's commitment to delivering top-tier repair services and sustainable solutions in the tech industry.
Expansion Through Partnerships
TD SYNNEX’s sustained focus on partnerships with other tech companies is helping it enhance its product portfolio and expand its global footprint. This Zacks Rank #3 (Hold) company’s most notable partnerships over the past year are with Meta Platforms (META - Free Report) , Microsoft (MSFT - Free Report) and Alphabet (GOOGL - Free Report) .
In October 2023, Meta Platforms selected TD SYNNEX as an exclusive North American distributor for its new suite of business products, including the newly launched Meta Quest 3 headset and other generative artificial intelligence (AI) products such as stickers, editing tools and smart glasses. Other new product lines from Meta Platforms will include tailored business solutions aimed at providing enhanced collaboration, training, creativity and design capabilities powered by the Metaverse technology.
In January 2023, the company unlocked a Microsoft Azure integrated fraud defense solution designed for customers from small and medium businesses (SMBs) amid growing cyber threat vulnerabilities. The 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.
Prior to that, in December 2022, SNX strengthened its collaboration with Alphabet by expanding its cloud solution portfolio with the Google Cloud offering in nearly 60 nations in the Latin American, European and Asian regions.
Currently, Meta, Microsoft and Alphabet each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.