Monday Morning Impact – June 6

Published On: June 1, 2025Categories: Buzz

Charter and Cox Announce Merger

Charter Communications and Cox Communications have announced a definitive agreement to combine their companies in a move intended to create an industry leader in mobile and broadband communications services, seamless video entertainment, and customer service. The proposed transaction values Cox Communications at an enterprise value of approximately $34.5 billion based on, and at parity with, Charter’s recent enterprise value to 2025 estimated Adjusted EBITDA trading multiple.

“We’re honored that the Cox family has entrusted us with its impressive legacy and are excited by the opportunity to benefit from the terrific operating history and community leadership of Cox,” said Chris Winfrey, President and CEO of Charter. “Cox and Charter have been innovators in connectivity and entertainment services – with decades of work and hundreds of billions of dollars invested to build, upgrade, and expand our complementary regional networks to provide high-quality internet, video, voice and mobile services. This combination will augment our ability to innovate and provide high-quality, competitively priced products, delivered with outstanding customer service, to millions of homes and businesses. We will continue to deliver high-value products that save American families money, and we’ll onshore jobs from overseas to create new, good-paying careers for U.S. employees that come with great benefits, career training and advancement, and retirement and ownership opportunities.”

In the transaction, Charter will acquire Cox Communications’ commercial fiber and managed IT and cloud businesses, and Cox Enterprises will contribute Cox Communications’ residential cable business to Charter Holdings, an existing subsidiary partnership of Charter.

As consideration in the transaction, Cox Enterprises will receive $4 billion in cash,
$6 billion notional amount of convertible preferred units in Charter’s existing partnership, which pay a 6.875% coupon, and which are convertible into Charter partnership units, which are then exchangeable for Charter common shares, and approximately 33.6 million common units in Charter’s existing partnership, with an implied value of $11.9 billion2, and which are exchangeable for Charter common shares. Cox Enterprises will own approximately 23% of the combined entity’s fully diluted shares outstanding. The combined entity will assume Cox’s approximately $12 billion in outstanding debt.

The transaction is subject to customary closing conditions, including the receipt of regulatory and Charter shareholder approvals. Within a year after the closing, the combined company will change its name to Cox Communications. Spectrum will become the consumer-facing brand within the communities Cox serves. The combined company will remain headquartered in Stamford, CT, and will maintain a significant presence on Cox’s Atlanta, GA campus following the closing.

Channel Impact^®
Benefits from the merger are expected to include increased competitive capability in the areas of broadband, wireline, wireless, mobile, video distribution, and satellite broadband.

TD Synnex Rolls Out New Partner Loyalty Program

TD Synnex has launched a new North American partner loyalty program designed to boost and reward partner ecosystem engagement and incentivize sustained growth by connecting partners with specialized resources, sales support and skills-building opportunities.

“We have a comprehensive collection of tools, services and solutions to support our partners, but we understand it can often be tough to know where to focus next,” said Jessica McDowell, SVP, North America Marketing and Digital Customer Success. “Through the Partner Loyalty program, we are not only rewarding partners for the great work they are already doing, but also incentivizing new activities that can help us achieve mutual business growth.”

A new digital hub is designed to streamline the partner experience and strengthen long-term engagement, delivering real-time incentive tracking and consolidated access to partners’ most-used platforms, services and support teams.

Partners can earn additional benefits by adopting new technology segments and vendor lines, attending the distributor’s events, and leveraging training services and financing programs. These benefits include MDF, account credits, additional training opportunities, travel credits for industry events, and special financing terms.

The program is now available at no additional fee to eligible partners prioritizing growth and leveraging the distributor’s Advanced Solutions portfolio, consisting of AI, modern infrastructure, security, cloud and analytics solutions.

Channel Impact^®
The program is intended to position partners to achieve expansion through a tier-based model that provides them with tailored solutions and market insights based on their business size and portfolio, along with marketing, travel and learning incentives.

Proofpoint Signs Agreement to Acquire Hornetsecurity

Proofpoint, a Sunnyvale, California-based cybersecurity and compliance company, has entered into a definitive agreement to acquire Hornetsecurity Group, a Hanover, Germany-based provider of AI-powered Microsoft 365 security, data protection, compliance, and security awareness services.

Hornetsecurity’s flagship product, 365 Total Protection, is a multi-tenant, unified platform to deliver integrated services including advanced email security, backup, security awareness, access and permission control, and domain fraud protection.

The acquired company comes to the Proofpoint portfolio with more than $160 million in annual recurring revenue (ARR), more than 20 percent year-over-year growth. The company provides solutions to more than 12,000 channel partners and MSPs and more than 125,000 SMBs across Europe. Meanwhile, Proofpoint claims 85 percent of the Fortune 100 and over half of the Fortune 1000 for its enterprise grade security offerings. Together, the companies intend to deliver complementary, purpose-built platforms fueled by shared threat intelligence.

“As attackers grow more sophisticated and people remain the primary target, organizations need security that protects them wherever they work—across email, cloud applications, and every digital channel,” said Sumit Dhawan, CEO of Proofpoint. “With the addition of Hornetsecurity, we’re excited to extend our industry-leading, human-centric security platform to better serve the unique needs of MSPs and SMBs. We look forward to deepening our investment in the European markets as part of our global growth strategy.”

The acquisition is expected to close in the second half of 2025, subject to customary closing conditions. Terms of the deal are confidential.

Channel Impact^®
The acquisition is expected to enhance Proofpoint’s ability to serve SMBs through managed service providers. The move will also strengthen Proofpoint’s position in European markets.

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