TD SYNNEX (SNX) Expands Security Portfolio With Partnership With Tugboat
TD SYNNEX SNX recently signed a distribution agreement with leading provider of safety compliance solutions, Tugboat Logic. As per the agreement, TD SYNNEX business partners will leverage Tugboat Logic’s leading SaaS compliance and security assurance platform.
Tugboat Logic’s Safety Assurance Platform provides ongoing compliance that helps organizations automate the process of creating and managing an InfoSec program. Thanks to Tugboat Logic’s artificial intelligence-based solutions, companies can easily create an InfoSec policy, manage and collaborate on audits and answer the safety questionnaire. This helps organizations gain the trust of customers, thereby helping them close more deals.
As a result of this transaction, TD SYNNEX’s securities portfolio is expected to be strengthened. This agreement can provide more agility to its business partners as their network and security needs continue to evolve. It can also enhance their available options to accelerate the digital transformation journey.
It is remarkable that TD SYNNEX received back-to-back contracts barely a month after its formation following the SYNNEX and Tech Data Corporation merger in the first week of September. The company also recently partnered with the global leader in cloud security. Zscaler ZS. According to the agreement, TD SYNNEX business partners will leverage security solutions from Zscaler’s leading security platform, Zero Trust Exchange.
SYNNEX Corporation Price and Consensus
Previously, the new entity signed an agreement with one of Israel’s leading software vendors, Indeni, to leverage automated network security solutions. It also signed a distribution contract with Palo Alto Networks PANW providing cybersecurity solutions to its clients based in India and SAARC (South Asian Association for Regional Cooperation).
Rank Zacks and other actions to consider
Currently, TD SYNNEX carries a Zacks Rank # 2 (Buy). You can see The full list of today’s Zacks # 1 Rank (Strong Buy) stocks here.
Another title of the same rank in the broad technology sector is NVIDIA Corp. NVDA. NVIDIA’s long-term expected earnings growth rate is currently set at 19.5%.
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