Synnex Burglarized To The Tune Of $4M In Laptops, Monitors

The theft likely occurred between 3:30 a.m. and 6 a.m., said Det. Ramon Ullola of the Sheriff's Department. "We are looking at some surveillance video, anything in the area that can give us some additional leads. It was probably an extensive operation involving larger vehicles like tractor trailers and probably a group of people," Ullola said.

>> Synnex warehouses have been burglarized at least three times in the past couple of years.

The thieves cut locks to the gated facility and to phone trunks that may have included the alarm system, said a source close to Synnex.

The Fremont, Calif.-based distributor confirmed there was a theft but would not provide details, citing the ongoing police investigation.

"We are working actively with law enforcement to investigate the matter. Our facility is fully operational, and we expect to recover the majority of the loss from insurance providers," said Dennis Polk, senior vice president of corporate finance and CFO of Synnex, during a conference call with analysts last Tuesday.

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Synnex warehouses have been burglarized at least three times in the past couple of years. In a September 2003 Securities and Exchange Commission filing before its IPO, the company stated thieves had stolen a total of $9.6 million in products from three warehouses. Solution providers and distribution executives speculated the thieves included a Synnex employee or at least had help from someone who worked at the facility.

"Most break-ins like this have to be internally related. There's some employee or ex-employee giving info to somebody," said a distribution executive who asked not to be named. "It surprises me that they've had so many and not fixed it yet. Our security is relatively state-of-the-art. We don't take anything for granted."

A Synnex employee who asked not to be identified said, "If you've ever seen a warehouse full of boxes, it's amazing how anyone can figure out what's what even if you had all the time in the world. That's why it's so obviously an inside job."

Solution providers said Synnex is not providing much information.

"I called up one of my [Synnex] reps and asked if there's any chance of getting anything out of the California warehouse. He said, 'You're not funny,' " said Jay Tipton, owner of Technology Specialists, Fort Wayne, Ind. "They won't tell us anything, but he said I shouldn't have problems getting anything."