SYNNEX Canada Announces Definitive
Agreement to Acquire Azerty United Canada's Ink and Toner Business
TORONTO, ON – May 4, 2006 – SYNNEX
Canada Limited, a subsidiary of SYNNEX Corporation (NYSE: SNX),
announced today that it has signed a definitive agreement to
expand its printing supplies distribution business by acquiring
substantially all of the assets of Azerty United Canada’s
ink and toner business from United Stationers Supply Co.
“SYNNEX Canada is a leader in supplying printer supplies to Canadian
value added resellers and retail customers,” said Robert Huang, President
and Chief Executive Officer of SYNNEX Corporation. “Through this acquisition,
we further strengthen our leadership position in printer supplies distribution,
as well as our position as one of the leading information technology product
distributors in Canada.”
“This acquisition will provide SYNNEX Canada with greater market share
and an expanded footprint, thus allowing us to provide an even higher level
of service to our customers and vendor partners,” said Jim Estill, Chief
Executive Officer of SYNNEX Canada Limited. We expect the integration of the
two organizations to be an efficient transition, and we look forward to the
Azerty United Canada staff becoming a part of the SYNNEX family.”
Total consideration for the purchased net assets is approximately
USD $17 million. In the twelve months ending March 31, 2006,
revenues from the Azerty United Canada ink and toner business
were approximately USD $100 million. SYNNEX does not expect
to retain the entire revenue run rate of the Azerty United
Canada business after the close of the acquisition. The transaction
is expected to close on or before June 15, 2006.
About SYNNEX Canada Limited
SYNNEX Canada Limited, a subsidiary of SYNNEX Corporation (NYSE:
SNX), is a leading distributor of technology products to resellers
and system builders across Canada. Committed to driving growth
and profitability for its resellers and vendor partners, SYNNEX
Canada offers great product selection at competitive prices
and supports customers with dedicated sales resources, unique
financial services, expert technical support, progressive e-business
tools and fast and accurate delivery with warehouses in key
cities. For more information, visit http://www.synnex.ca
About SYNNEX Corporation
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, demand generation marketing 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 press release regarding SYNNEX Corporation
which are not historical facts are “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements may be identified by terms such
as believe, expect, may, will, could and should and the negative
of these terms or other similar expressions. These statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those discussed in the forward-looking
statements, including statements regarding
SYNNEX Canada’s leadership position, greater market share
and expanded footprint; annual revenues related to the acquisition;
closing date of the transaction; ability to successfully integrate
the acquisition and other risks detailed from time to time
in SYNNEX’s SEC reports, including its Quarterly Report
on Form 10-Q for the quarter ended February 28, 2006. In
light of these risks and uncertainties, there can be no assurance
that the results referred to in the forward-looking statements
contained in this press release will occur. Statements
included in this press release are based upon information known
to SYNNEX Corporation as of the date of this release, and SYNNEX
Corporation assumes no obligation to update information contained
in this press release.
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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.