SYNNEX Corporation Announces Acquisitions of Aspire Technology Limited and Encover Inc.

Acquisitions Provide a Proven, Best-of-Breed Renewals Platform Focused on Driving Profit Expansion

FREMONT, Calif.--()--Concentrix Corporation, SYNNEX Corporation’s (NYSE:SNX) Business Process Outsourcing (BPO) segment, today announced it has acquired two complementary premier renewal platform companies; Aspire Technology Limited and Encover, Inc., both privately-held. Aspire services IT vendors, distributors and resellers primarily in Europe driving renewal services through its proprietary RenewalsManager SaaS platform. Encover provides automated services primarily focused in the U.S., enabling IT vendors to manage renewals through their enterprise ChESS platform and providing professional services to increase warranty and license renewal rates.

“We are excited to have Aspire and Encover become the foundation of our platform BPO services,” stated Kevin Murai, President and Chief Executive Officer of SYNNEX Corporation. “These investments represent a significant step forward in our BPO services strategy. We are fortunate to also gain the expertise from the leaders and employees of both organizations.”

“Aspire has had strong success in working with distributors and channel partners whereas Encover’s success has primarily been with enterprise customers,” stated Chris Caldwell, SVP and General Manager of Concentrix Corporation. “These companies complement each other well and are industry leaders with their respective proprietary technology platforms that help customers achieve greater success in their renewal programs. The combination of these companies gives us a solution set that fits multiple geographies, complexities and go-to-market strategies of clients for their renewal needs. These acquisitions also provide Concentrix cross-sell and margin expansion opportunities while expanding our BPO footprint.”

Clare Findlay, Chief Executive Officer of Aspire Technology Limited said, “With Concentrix’ growing global presence, we will be able to help our customers in new geographies while attracting new customers to our platform and services. We look forward to becoming a part of the Concentrix team.”

“Concentrix will help us leverage our deep domain knowledge and leading software solutions. By combining our capabilities and the scale that currently exists we will be able to fuel growth into new domestic and international markets,” said John Vitalie, Encover President and Chief Executive Officer. “We are very excited to be joining the Concentrix team.”

Aspire and Encover together bring approximately 200 employees and $25 million in annual revenues. Aspire is headquartered in London, England and Encover is headquartered in San Francisco, CA. SYNNEX expects these acquisitions will incur some initial acquisition integration charges in the fourth quarter of 2010.

About Aspire Technology Limited

Aspire’s cloud-based RenewalsManager™ solution helps global technology organizations grow maintenance, support and subscription revenues rapidly and cost effectively. Combining expert knowledge, best in class data management and insightful analytics, Aspire delivers fast and flexible solutions. Headquartered in London, Aspire works globally on behalf of its clients, maximizing the service contract opportunity for more than 20,000 channel partners in over 100 countries.

About Encover Inc.

Encover's software platform manages over $4 billion of service contracts and processes millions of transactions annually for customers today in 10 languages and multiple currencies. Encover is an established leader in Service Sales Solutions with over 10,000 business partners using its technology daily.

About Concentrix Corporation

Concentrix Corporation is the global business outsourcing division of SYNNEX Corporation with award-winning expertise in providing our clients with services and support to enhance their customer relationships. From locations in the Philippines, China, Costa Rica, Nicaragua, the United States and Japan, our nearly 5,000 employees support clients in multiple languages and countries around the world. Concentrix Corporation is a wholly-owned subsidiary of SYNNEX Corporation (NYSE: SNX), a Fortune 500 company. For more information, please visit www.concentrix.com.

Safe Harbor Statement

Statements in this press release regarding SYNNEX Corporation or Concentrix 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, provide, could and should and the negative of these terms or other similar expressions.

These statements, including statements regarding the strategic growth opportunities, expansion of our global footprint, increased cross-selling opportunities, margin expansion opportunities, growth in the use of the Aspire platform, expansion of the RenewalsManager platform, growth in the use of the Encover platform, expansion of the ChESS platform and the benefits of these acquisitions, are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, but are not limited to: the successful transition of Aspire and Encover; loss of Aspire’s or Encover’s vendors and customers; general economic conditions and any weakness in IT and consumer electronics spending; the loss or consolidation of one or more of our significant OEM suppliers or customers; market acceptance and product life of the platforms sold by Aspire and Encover; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our customers; our ability to gain market share; changes in our costs and operating expenses; risks associated with our international operations; credit exposure to our reseller customers, and negative trends in their businesses; and other risks and uncertainties detailed in our Form 10-Q for the fiscal quarter ended August 31, 2010 and from time to time in SYNNEX Corporation’s SEC filings. Statements included in this press release are based upon information known to SYNNEX Corporation and Concentrix Corporation as of the date of this release, and SYNNEX Corporation and Concentrix Corporation assume no obligation to update information contained in this press release.

Copyright 2010 SYNNEX Corporation. All rights reserved. SYNNEX, the SYNNEX Logo and all other SYNNEX company, product and services names and slogans are trademarks or registered trademarks of SYNNEX Corporation. SYNNEX and the SYNNEX Logo Reg. U.S. Pat. & Tm. Off. Other names and marks are the property of their respective owners.

Source: SNX – F

Contacts

SYNNEX Corporation
Lori Barker, 510-668-3715
Sr. Director, Investor Relations
lorib@synnex.com
or
Hughes Agency
Amanda Long, 864-271-0708
Senior Account Executive
amanda@hughesagency.org

Contacts

SYNNEX Corporation
Lori Barker, 510-668-3715
Sr. Director, Investor Relations
lorib@synnex.com
or
Hughes Agency
Amanda Long, 864-271-0708
Senior Account Executive
amanda@hughesagency.org