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.