SYNNEX to acquire Minacs Group and integrate with Concentrix

12th July 2016 | By Mouseworld Now Correspondent |

New Delhi – July 12th, 2016 – SYNNEX Corporation (NYSE: SNX), and Minacs have entered into a definitive agreement through which SYNNEX will acquire Minacs and integrate it into its Concentrix business segment. The purchase price is approximately $420 million subject to closing adjustments.

This transaction will strengthen domain expertise in Concentrix’ automotive industry vertical and accelerate Marketing Optimization and IoT solutions with Minacs’ proprietary technology. The transaction also provides Concentrix more scale and reach to further serve its client base. As a result, Concentrix is expected to strengthen its competitive advantages in the marketplace.

“We believe this acquisition will enhance Concentrix’ position as global leader in business services,” stated Kevin Murai, CEO and President of SYNNEX Corp. “This strategic investment is expected to create even greater scale and a more compelling value proposition for our clients and shareholders. This transaction is also in line with our stated goals of margin expansion and diversification of our revenue.”

“Minacs has been able to establish itself as a high value unique player in Business Services. Their investments in IoT and Marketing Optimization stand out as solutions with growing market demand, which we believe we will be able to leverage across our combined client base,” said Chris Caldwell, President of Concentrix. “This acquisition is intended to increase our speed to market of these solutions and provide us new opportunities for expansion.”

Anil Bhalla, CEO of Minacs, will stay with the combined company and join Concentrix’ senior executive staff. “I am confident that the combination of our capabilities will present an even more compelling value proposition to the marketplace,” Bhalla said. “Across industries, clients can expect our shared vision and strategic scale to help them solve bigger, more complex business challenges.”

The transaction is expected to be closed by late Q3 2016, subject to the satisfaction of regulatory requirements and customary closing conditions. Until the transaction is completed, the companies will continue to operate independently.

Tags: , , , , , , , ,

Leave your comment

IMPORTANT! To be able to proceed, you need to solve the following simple math

What is 6 + 6 ?
Please leave these two fields as-is:

Mouseworldnow Videos
  • r chandrashekhar president nasscom
  • Anant Maheshwari, President, Microsoft India
  • Suresh_Vaswani-220 by 220

Channel News

  • Second Edition of Annual 4.5G & 5G Innovation Summit concludes on a successful note more...
  • Wydr launches India Wholesale E-Fair more...
  • Snapdeal clocks record 3x growth in Kids Category more...
  • Paytm ensures 100% security for users’ identity in Money transfers more...
  • HP Rolls out Four New PageWide Web Presses more...
Subscribe via email

Enter your email address:

Follow us on Facebook
QUESTION HOUR
What does the mouse ask?

Will the spurt in online video advertisement steal the twinkle from the TV ad platform?

View Results

Loading ... Loading ...
Newsletter Registration