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Synnex Split: 5 Big Things You Need To Know Right Now

The company announced that it would split into two publicly traded companies, one focused on IT distribution and the Concentrix division to drill down on its customer experience mission.

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The Synnex Split

Fremont, Calif.-based distributor Synnex dropped a bombshell announcement ahead of its after-the-bell earnings Thursday that it would spin off its customer experience division, Concentrix.

“The markets that both businesses operate in have been and will continue to go through rapid change,” Synnex CEO Dennis Polk said. “Considering this aspect. We believe having each business be independent to address the individual market dynamics in the nimblest way will enabled the best opportunity for each entity to grow and drive returns.”

Following the transaction, Synnex and Concentrix will emerge as separate, publicly traded companies, with Synnex shareholders owning Concentrix “at the same percentage owned of SYNNEX, prior to the transaction.”

Here are five big things you need to know about the deal.

 
 
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