Clearwater-based TD SYNNEX has agreed to buy BlueStar, adding a specialized technology distributor focused on everything from RFID and point-of-sale systems to robotics and security to a global business that serves more than 150,000 customers in more than 100 countries.
The Fortune 100 company did not disclose what it will pay for BlueStar, and the deal still requires regulatory approval. Until it closes, the companies will continue operating independently.
BlueStar’s business centers on automatic identification and data capture, or AIDC, the technology used to automatically identify and track products and other objects through tools such as barcodes and RFID. Its portfolio also includes mobility, digital signage, networking, operational technology, robotics and security.
“BlueStar has built an outstanding reputation through specialization, technical expertise and an unwavering commitment to its partners,” said Reyna Thompson, president of North America for TD SYNNEX. “We’re excited about the opportunity to combine BlueStar’s expertise in AIDC, operational technology, mobility, RFID, point-of-sale and related technologies with the global resources, investments and reach of TD SYNNEX.”
BlueStar CEO Ryan Girvin said the company expects to keep the specialization and customer support it is known for while gaining the resources of TD SYNNEX.
“Our customers and vendor partners rely on BlueStar because of our specialization, industry expertise and personalized support,” Girvin said. “The opportunity to join TD SYNNEX would allow us to maintain those strengths while expanding the resources, capabilities and opportunities available to the partners we serve.”
The acquisition follows a quarter in which TD SYNNEX generated $21.56 billion in revenue, up 37.7% from $15.65 billion a year earlier, while gross profit rose 26.2% to $1.43 billion. Gross margin moved the other direction, falling from 7.22% to 6.61%.
TD SYNNEX, which has about 23,000 employees and dual headquarters in Clearwater and Fremont, California, distributes hardware, software and systems across the global technology market. Its Hyve Solutions business designs and manufactures computing, cloud and connected infrastructure.