TD SYNNEX SNX recently entered into a partnership with the California-based spatial data company driving the digital transformation of the built world — Matterport Inc. MTTR — to help it boost its presence in the North American market.
TD SYNNEX’s large network of 150,000 resellers will provide Matterport’s industry-leading technology to a huge customer base including new enterprises, small & medium business customers and public agencies.
On one hand, this will enable the SNX clients to optimize their operations by getting integrated with Matterport's platform, and on the other, enable Matterport to get a stronghold in the North American property market of approximately 1 billion spaces.
TD SYNNEX Corp. Price and Consensus
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Through this agreement, Matterport will get hold of larger enterprises as it continues to drive technology adoption across commercial and residential real estate industries, facilities management, construction, and the retail sector. Matterport’s all-in-one platform transforms real-life spaces into immersive digital twin models. With the help of artificial intelligence and machine learning, Matterport creates digital twins that are dimensionally accurate 3D digital models, which are quickly updatable to reflect changes in the physical counterpart.
TD SYNNEX also forged a partnership with the largest independent publicly-traded business intelligence company, MicroStrategy MSTR, in the North American region in January.
Through this contract, TD SYNNEX has enhanced its portfolio of Internet of Things, data, and analytics solutions. MicroStrategy’s comprehensive software platform included features like self-service data discovery, enterprise reporting, mobile applications, and embedded analytics. These features enabled TD SYNNEX’s partners to offer end-to-end enterprise analytics, driving end-user adoption and meeting data-driven business culture demand.
In the same month, the company entered into a strategic collaboration agreement with Amazon’s AMZN subsidiary, Amazon Web Services (“AWS”), to invest in resources that will help in developing advanced cloud solutions for its partners.
This agreement enabled TD SYNNEX partners, including small and medium-sized businesses, public sector organizations, and individual software vendors, to get improved international exposure to sell their newly developed offerings integrated with Amazon’s AWS advanced cloud technology.
Currently, Matterport has a Zacks Rank #2 (Buy) while TD SYNNEX and Amazon carry a Zacks Rank #3 (Hold). However, MicroStrategy carries a Zacks Rank #5 (Strong Sell). Shares of MTTR, SNX, AMZN and MSTR have declined 62.4%, 13.5%, 10.7% and 52%, respectively, in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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