Shyft Global Services, A Division Of TD SYNNEX, To Acquire Cokeva, Inc. To Expand Shyft's Global Repair Capabilities, Certifications And Footprint; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Shyft Global Services, a division of TD SYNNEX (NYSE:SNX), has acquired Cokeva, Inc., a leader in IT equipment repair, test, and refurbishment. The acquisition expands Shyft's repair capabilities and global footprint, adding a 220,000 sq. ft. facility in Roseville, California with ISO 9001:2015 and ISO 5/Class 100 certifications. This move adds over 200 repair service experts to Shyft and enhances its service offerings to OEMs in various industries, aligning with Shyft's commitment to sustainability and the circular economy.
January 02, 2024 | 5:06 pm
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TD SYNNEX's acquisition of Cokeva, Inc. through its Shyft division is likely to enhance its service offerings and global reach in IT equipment repair, potentially leading to increased customer satisfaction and business opportunities.
The acquisition of Cokeva by TD SYNNEX's Shyft division is expected to have a positive short-term impact on SNX's stock price. The expansion of repair capabilities and certifications, along with the addition of a significant facility and workforce, positions SNX to capitalize on increased demand for IT repair services. This strategic move aligns with industry trends towards sustainability and the circular economy, which may be viewed favorably by investors.
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