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PLEASANTON, Calif. - Arctera, Wasabi Technologies, and TD SYNNEX (NYSE: SNX) - a prominent player in the Electronic Equipment industry with a market capitalization of $10.62 billion - announced Tuesday a new channel-ready data protection solution that combines Arctera Backup Exec with Wasabi Hot Cloud Storage in a single offering for channel partners.
The integrated solution provides end-to-end protection for physical, virtual, cloud and SaaS environments, with data automatically directed to Wasabi’s cloud storage. According to the companies, the offering features flat pricing with no egress fees. This strategic move comes as TD SYNNEX maintains strong financial performance, with annual revenue reaching $59 billion and a healthy dividend yield of 1.41%.
For channel partners, the solution streamlines the sales process with a single order form, SKU and invoice, potentially increasing profit margins.
"In a world where challenges get more and more complex every day, solutions need to be more and more simple," said Simon Jelley, VP and GM Data Protection at Arctera.
Laurie Mitchell, SVP of Global Alliances and Partner Marketing at Wasabi, noted that the combination "gives resellers a compelling, high-performance offering that lowers costs for their customers while improving margin for themselves."
The offering is currently available through TD SYNNEX in North America, with plans for international expansion later this year. The solution will be distributed exclusively through channel partners.
"With this joint solution from Arctera and Wasabi added to our comprehensive portfolio, we’re able to enrich the breadth and depth of our offerings," said Marcie Stout, VP of Cloud Marketplace and ISV at TD SYNNEX.
Arctera, formed in 2024 from Veritas Technologies, provides data management solutions to thousands of customers worldwide, including 70% of Fortune 100 companies. TD SYNNEX (NYSE: SNX) serves more than 150,000 customers in over 100 countries. According to InvestingPro, TD SYNNEX is currently trading at attractive valuations with a P/E ratio of 15.57, and investors should note the company’s upcoming earnings announcement scheduled for June 24. For detailed analysis and additional insights, including 10 more exclusive ProTips, explore TD SYNNEX’s comprehensive Pro Research Report, available with an InvestingPro subscription.
This article is based on a press release statement from the companies.
In other recent news, TD Synnex has been the focus of several analyst reviews and strategic developments. Morgan Stanley initiated coverage on TD Synnex with an Overweight rating, setting a price target of $145, highlighting the company’s potential in the IT hardware sector. Meanwhile, RBC Capital maintained its Outperform rating but adjusted the price target from $165 to $145, reflecting near-term uncertainties while expressing confidence in the company’s mid-term growth prospects. Goldman Sachs reiterated its Buy rating with a $133 price target, emphasizing optimism about TD Synnex’s strategy to grow faster than the overall IT market despite revised revenue guidance.
TD Synnex’s management has set a compound annual growth rate target of 10-12% for earnings per share, aiming for sustainable and profitable growth. The company also plans to return 50-75% of free cash flow to shareholders through dividends and share buybacks. Additionally, TD Synnex announced the appointment of Kenneth Lamneck to its Board of Directors, where he will serve as Chair of the Nominating and Corporate Governance Committee. This strategic addition is expected to bolster the company’s governance and oversight.
As TD Synnex prepares to release its fiscal second-quarter 2025 results, analysts anticipate a quarter in line with expectations, despite some softer demand in specific segments. The company has maintained its forecast for 3-4% revenue growth in the second half of 2025 and $1.1 billion in free cash flow for the full fiscal year. Investors will be closely monitoring these results to assess the company’s ability to achieve its stated goals amid current market conditions.
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