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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 background on Concentrix

Synnex in late-2006 acquired Concentrix, a Rochester, N.Y.-based marketing company that provided call center, database analysis, and print-on-demand services. Then in September 2013, Synnex paid $505 million in a cash and stock transaction to by IBM’s worldwide customer care business process outsourcing services business. It merged the two units under the Concentrix brand, which was a fully owned subsidiary of Synnex.

As part of the transaction, Synnex entered into a multi-year agreement with IBM, and Concentrix became an IBM strategic business partner for global customer care business process outsourcing services.

Synnex has for some time separately reported details about Concentrix's financials. After the Synnex split, both companies will be publicly listed.

 
 
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