By | October 4, 2018

SYNNEX Corporation (NYSE:SNX) stock observed trading -40.19% off 52-week high price. On the other end, the stock has been noted 1.53% away from low price over the last 52-weeks. The stock disclosed a move of -10.33% away from 50 day moving average and -22.89% away from 200 day moving average. Moving closer, we can see that shares have been trading -7.72% off 20-day moving average. It has market cap of $3416.38M and dividend yield of 1.65%.

SYNNEX Corporation (NYSE:SNX), a leading business process services company, reported that the acquisition of Convergys is expected to close on Friday, October 5, 2018. Both SYNNEX and Convergys received their respective shareholder approval for this transaction and have been granted all regulatory approvals necessary to proceed with the close. The definitive agreement was originally announced on June 28, 2018. The transaction creates the second largest customer engagement services company in the world, with annual revenues of approximately $4.7 billion.

Dennis Polk, President and Chief Executive Officer, SYNNEX Corporation said “We are excited to welcome our talented colleagues from Convergys to the SYNNEX and Concentrix global team”. “This transformational combination reinforces Concentrix’ market position in business services, broadening our global scale and scope, and presents opportunities for revenue and profitability growth.”

The integration process has already begun through the collaborative efforts of teams from both companies and is expected to be complete over the next 12 months.

The USA based company SYNNEX Corporation moved with change of 1.32% to $84.9 with the total traded volume of 930413 shares in recent session versus to an average volume of 299.53K. The stock was observed in the 5 days activity at -2.97%. The one month performance of stock was -10.97%. SNX’s shares are at -17.37% for the quarter and driving a -34.02% return over the course of the past year and is now at -37.55% since this point in 2018.  Right now the stock beta is 0.72. The average volatility for the week and month was at 3.14% and 2.44% respectively. There are 40.24M shares outstanding and 29.71M shares are floated in market.

Financial Terms:

Under the terms of the merger agreement, the total purchase price to be paid to equity shareholders is expected to be approximately $2.2 billion, including approximately $1.2 billion in total cash or $13.25 per share, and 11.51 million shares of SYNNEX stock, or 0.1263 SYNNEX common shares for each share of Convergys common stock. This is expected to represent approximately 22% of SYNNEX shares outstanding (after issuance of new shares) on a fully diluted basis. The transaction will also include net debt of approximately $270 million.

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Shane Roberts

About Shane Roberts

Before joining News Registrar, Shane Roberts worked as a freelance writer. He has more than 10 years’ experience in journalism and public relations. His experience in public relations includes press releases, promotional materials, and working with media outlets. He also has professional experience writing news, technology, and business stories. Shane learned CFA Level 2 from CFA Institute (USA). He has worked in diverse capacities from financial research to currency trading in a span of 3 years. Shane covers Business news section. Email Contact: Shane@newsregistrar.com

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