Shyfting Gears: TD Synnex's Shyft Division Accelerates With Cokeva Acquisition

TD Synnex Corp SNX division Shyft Global Services disclosed the acquisition of technology lifecycle service provider Cokeva, Inc. for an undisclosed amount.

Cokeva deals in repairing, testing, and refurbishing IT equipment and delivers cost-effective technology repair and supply chain solutions for technology manufacturers.

Cokeva boosts Shyft's depot repair service capabilities and unlocks additional opportunities for its customers with its 220,000 sq. ft. operation in Roseville, California. This facility holds a certification for ISO 9001:2015 Quality Management Systems and operates a cleanroom to ISO 5/Class 100 standards. 

Ron Brinckerhoff, Senior Vice President of Shyft, said, "Shyft Global Services is excited to welcome Cokeva to our global team. The addition of Cokeva will provide customers the opportunity to leverage a broader range of end-to-end technology services. Adding more than 200 highly trained repair service experts, engineering resources and another world-class facility to our services portfolio will provide significant benefits for both Shyft and Cokeva customers."

As of August 31, 2023, SNX's cash and equivalents stood at $1.25 billion. 

Price Action: SNX shares closed lower by 1.38% at $106.13 on Tuesday.