$IM (Ingram Micro Inc.)

$IM {{ '2016-07-22T12:10:34+0000' | timeago}} • Announcement

$IM, which entered into a merger agreement with Tianjin Tianhai in Feb. 2016, said that along with Tianjin Tianhai it will submit a joint notification to Committee on Foreign Investment in the United States. The deal is expected to close in 2H16. After closing, $IM will be a part of HNA Group, which is the largest stockholder of Tianjin Tianhai.

$IM {{ '2017-07-20T20:41:02+0000' | timeago}} • Announcement

In a bid to boost its cloud platform, $IM has appointed Richard Dufty as SVP of the company’s Global Cloud Platform Group. Tim FitzGerald joins as VP of Cloud Channel Sales, North America, Ingram Micro Cloud. Jason Bystrak, previously head of North America Cloud Channel Sales, is the new executive director, Partner Enablement, Ingram Micro Cloud.

$SNX {{ '2017-07-20T14:11:59+0000' | timeago}} • Announcement

Concentrix Corp., a subsidiary of $SNX, agreed to buy Tigerspike. Alex Burke, CEO of Tigerspike, will stay as the leader of Tigerspike and join Concentrix' senior executive staff, reporting to Chris Caldwell, President of Concentrix. It is anticipated that the transaction will close in 3Q17.

$VRSN {{ '2017-07-19T13:41:50+0000' | timeago}} • Announcement

According to $VRSN's Domain Name Industry Brief, about 1.3MM domain name registrations were added to the internet in 1Q17, bringing the total number of domain name registrations to about 330.6MM across all top-level domains as of March 31, 2017. New .com and .net domain name registrations totaled 9.5MM during 1Q17.

$MSM {{ '2017-07-13T12:03:45+0000' | timeago}} • Webcast

$MSM expects 4Q17 gross margins to be 43.8%, plus or minus 20 basis points and sees a typical sequential decline in margins for 4Q17. The company expects midpoint operating expenses to be about $230MM and effective tax rate of 37.3%. Operating margin is now expected to be around 12.6% at the midpoint of forecast.

$MSM {{ '2017-07-13T11:58:52+0000' | timeago}} • Webcast

$MSM's capital expenditures were $12.4MM in 3Q17 and now expects its FY17 capital expenditures to be around $55-60MM. $MSM's operating cash flow conversion ratio and that’s net cash from operating activities divided by net income was around 99% in 3Q17 and it expects to end the fiscal year at roughly the same level.

$MSM {{ '2017-07-13T11:56:07+0000' | timeago}} • Webcast

$MSM added about 5,000 net SKUs in 3Q17 and total active salable SKU count is over 1.5MM. $MSM ended the quarter at 2,309 field sales and service associates. The company expects a slight decline over the following few months. And $MSM expects this trend to continue as its sales effectiveness programs gain traction.

$MSM {{ '2017-07-13T11:54:32+0000' | timeago}} • Webcast

$MSM said the improvement in growth rates during 3Q17 was pretty much across the board, with particularly strong growth in national accounts which increased in the mid single-digit range with building momentum through the quarter. Government growth was in the low single-digit range.

$VSAT {{ '2017-07-12T20:34:46+0000' | timeago}} • Announcement

$VSAT appointed Varsha Rao to its BoD. Rao will serve as a Class III Director effective immediately. With this appointment, the company's Board now consists of nine members, seven of whom are independent directors.

$MSM {{ '2017-07-12T11:07:12+0000' | timeago}} • Announcement

$MSM expects net sales for 4Q17 of $732-746MM, based on current market conditions. At the midpoint, average daily sales are expected to increase roughly 7% compared to last year. The company expects EPS of $0.97-1.01 for 4Q17.

$MSM {{ '2017-07-12T11:05:25+0000' | timeago}} • Announcement

$MSM's average daily sales for 3Q17 increased by 3.8%. Most of this came from customer types and products with lower gross margins and, hence, its gross profit was slightly below expectations. However, offsetting this was continued focus on expense control, resulting in operating margins 20 basis points ahead of the midpoint of guidance.

$MSM {{ '2017-07-12T11:03:36+0000' | timeago}} • Announcement

$MSM reported a decline in 3Q17 earnings due to higher costs and expenses. Net income fell to $62.84MM from $64.82MM last year, while EPS rose to $1.09 from $1.05 on lower weighted average shares. Net sales grew to $743.92MM from $727.5MM, on improving sales growth across all of customer types.

$VRSN {{ '2017-07-11T17:28:25+0000' | timeago}} • Announcement

$VRSN said the upside trigger on its 3.25% junior subordinated convertible debentures due 2037 has been met for the six-month interest payment period from Feb. 15, 2017, to Aug. 14, 2017. As a result, contingent interest of about $7.5MM will be paid on the Notes for that six-month interest payment period.

$TECD {{ '2017-07-10T17:40:40+0000' | timeago}} • Announcement

$TECD will offer a complete solution that integrates the new Microsoft 365 Business with its own Small Business Cloud Server offering, which runs on Microsoft Azure, to provide small and medium-sized businesses (SMBs) with an ideal platform for digital transformation.

$VRTU {{ '2017-07-05T21:33:01+0000' | timeago}} • Announcement

IT consulting firm $VRTU said Martin Trust and Robert E Davoli have retired from the company’s BoD. Davoli will continue to serve as a director of Virtusa until the annual meeting to be held on September 7, 2017. Davoli has been a board member since 2000, while Trust serves as a member since 2004.

$SCSC {{ '2017-06-29T14:17:59+0000' | timeago}} • Announcement

Digital technology firm $SCSC has agreed to acquire POS Portal, a distributor of payment devices and services. The transaction will result in formation of the industry’s largest payments channel. POS customers will gain access to ScanSource’s larger portfolio of POS offerings, and $SCSC customers will get access to the additional services of POS.

$VRSN {{ '2017-06-29T13:44:08+0000' | timeago}} • Announcement

Cyber security company $VRSN said it is planning an offering of $450MM aggregate principal amount of senior unsecured notes due 2027. The company intends to use the proceeds from the offering for general corporate purposes, including share repurchase.

$IM {{ '2017-06-28T10:48:15+0000' | timeago}} • Announcement

$IM and GFI Software sign distribution agreement for the Middle East and Africa region, covering 17 countries. The new agreement will allow $IM to distribute GFI Software's complete range of IT solutions to channel partners in 17 additional countries other than Turkey and Australia where the company has existing relationship.

$VSAT {{ '2017-06-26T12:41:32+0000' | timeago}} • Announcement

Broadband services provider $VSAT has received contracts worth $88.3MM from the US Navy Space and Naval Warfare Systems Command to provide ‘information distribution system - radio system terminals’ for the navy and air force. Under the Lot 5 and Lot 5a contracts, ViaSat will provide data link and programmable networking technologies for warfighter.

$TECD {{ '2017-06-23T12:19:21+0000' | timeago}} • Announcement

$TECD announced the combined leadership of its Canadian operations following the acquisition of Avnet's Technology Solutions business. Ed Galasso has been promoted to VP and general manager, Sales and Product Marketing, for $TECD's Commercial and Retail business in Canada. Brian Aebig has been appointed VP, Sales for Enterprise Solutions business.

$SNX {{ '2017-06-22T21:51:04+0000' | timeago}} • Webcast

On the pending acquisition of Datatec's Westcon-Comstor Americas business, $SNX said that because of its stock price, the company will take a decision on the cash-stock purchase before closing the deal. Other factor would be the overall credit environment, the company added.

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