Synnex Acquires Minacs for Industrial IoT Push
Synnex is acquiring Minacs for $420 million as part of the distributor’s industrial IoT (Internet of Things) and marketing optimization push. Synnex plans to integrate Minacs into its Concentrix business segment.
According to a prepared statement:
“This transaction is intended to strengthen domain expertise in Concentrix’ automotive industry vertical and accelerate Marketing Optimization and IoT solutions with Minacs’ proprietary technology. The transaction also provides Concentrix more scale and reach to further serve its client base. As a result, Concentrix is expected to strengthen its competitive advantages in the marketplace.”
Anil Bhalla, CEO of Minacs, will join Concentrix’ senior executive staff.
Concentrix, a wholly owned subsidiary of Synnex, has operations across 25 countries, with approximately 90 delivery centers. It has more than 70,000 employees servicing more than 400 clients in more than 40 languages.
Synnex Acquires Minacs: About the Seller
Minacs positions itself as an outsourcing business solutions partner to global corporations in the manufacturing, retail, telecom, technology, media and entertainment, banking, insurance, healthcare, and public sectors. The company has roughly 21,000 employees across 35 centers worldwide.
Synnex’s buyout of Minacs arrives as multiple distributors and corporate IT companies shift their focus to address the Internet of Things. At the same time, distributors are pushing deeper into omni-channel marketing technologies.