Business Context and Reporting Period
Company: SYNNEX Corporation (Delaware)
Filing Type: Form 8-K (Current Report)
Date of Report: March 27, 2007
Event: Announcement of a definitive agreement by wholly-owned subsidiary SYNNEX Canada Limited to acquire substantially all assets of Redmond Group of Companies, including AVS Technologies, an independent consumer electronics distributor.
Key Financial Metrics
Transaction Consideration: Approximately CDN $45 million for purchased net assets.
Debt Assumption: Approximately CDN $10 million included in the total consideration.
Other Metrics: The filing text does not provide clear values for revenue, profit, cash flow, margins, or overall liquidity for the reporting period.
Material Changes
This filing reports a specific corporate event rather than periodic financial performance changes. The material change is the pending expansion of SYNNEX's Canadian operations through the acquisition of Redmond Group of Companies assets.
Outlook, Risks, and Contingencies
- Contingencies: Completion of the transaction is subject to regulatory and other approvals.
- Closing Conditions: Satisfaction of other customary closing conditions is required.
- Management Commentary: The filing incorporates a press release (Exhibit 99.1) but does not contain detailed management commentary within the text provided.
Investor Verification Checklist
- Verify the final closing date and confirmation of regulatory approvals.
- Confirm the exact exchange rate used to convert CDN $45 million to USD for financial statement impact.
- Review the full text of the press release (Exhibit 99.1) for strategic rationale and integration plans.
- Monitor future filings for the impact of the CDN $10 million debt assumption on the consolidated balance sheet.