SYNNEX Corporation to Acquire BSA Sales, Inc.

 

FREMONT, CA— February 19, 2004 -- SYNNEX Corporation (NYSE: SNX), a global IT supply chain services company, announced today that the company signed a definitive agreement to acquire BSA Sales, Inc. (BSA). The cash-for-stock transaction is valued at approximately $4.5 million, which includes an earn-out payment based on future performance. The transaction is expected to close on February 29, 2004.

Through an effective system that generates awareness and demand, BSA provides business development, outsourced sales and other marketing services to technology product vendors of systems, software and communications equipment.

“SYNNEX is known for providing no-frills, value-added services in the channel. We are always actively looking for different ways to maximize value for our vendor partners and reseller customers,” said Cathy Chiu, Senior Vice President of Corporate Development and Communications at SYNNEX Corporation. “BSA provides marketing and sales services to the channel that are focused, differentiated and results-oriented. It is highly targeted toward the type of marketing service our vendors and resellers are asking for today. We look forward to working with BSA management to develop effective programs that are tightly coupled with our vendors’ marketing initiatives.”

“The additional infrastructure resources that SYNNEX brings to our relationship allow us to more quickly scale for even greater future growth and at greater cost savings,” said John Ludwig, CEO of BSA. “The excellent synergy between the two companies will enable us to create new services beneficial to both SYNNEX’ and BSA’s vendors and resellers. We are very excited about the prospect of working with SYNNEX.”

About SYNNEX
Founded in 1980, SYNNEX Corporation is a global IT supply chain services company offering a comprehensive range of services to original equipment manufacturers, software publishers and reseller customers worldwide. SYNNEX offers product distribution, related logistics services and contract assembly and works with the leading industry suppliers of IT systems, peripherals, system components, software and networking equipment. Additional information about SYNNEX may be found online at www.synnex.com.

Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this release.

SYNNEX and the SYNNEX logo are trademarks of SYNNEX Corporation or its subsidiaries and should be treated as such. All rights reserved. All other company names mentioned herein are trademarks of their respective owners.