Avnet

Avnet is B2B the distributor of IT solutions entering the list of Fortune companies 500. The headquarters of the company is located in Arizona (USA). By 2016 at the company 16 centers and representations work, it works in 34 countries of the world, including in Russia.

History

2018: Purchase of IoT-developer and solutions AI of Softweb Solutions

On December 12, 2018 Avnet announced purchase of consulting company Softweb Solutions and called this transaction in a root changing the market of Internet of Things. Acquisition value does not reveal, and the companies expect to close the transaction until the end of 2018. Read more here.

2016: Sale of IT-Business for $2.6 billion

On September 19, 2016 the Avnet company announced sale of IT-Business to the distributor of technology products of Tech Data for $2.6 billion.

Under the terms of the agreement, Avnet will receive $2.4 billion cash and 2.8 million stocks of Tech Data that corresponds to a 7 percent share in the company.

As a result of closing of the transaction which is planned on the first half of 2017 Avnet expects increase in profit by $3.75-4.75 counting on one action. Tech Data also predicts "considerable" profit increase in the first year after official accession of assets of the competitor.

The international distributor of Avnet sells IT-Business for $2.6 billion

In Avnet reported that sale of IT department will help the company to focus on services in the field of deliveries and to invest in such businesses as the built-in solutions, Internet of Things and crucial digital platforms.

The transaction is profitable also to Tech Data: the company is going to expand at the expense of it the activity from 21 to 35 countries and to achieve approximate revenue in the amount of $35 billion, more than a half (53%) of which will arrive from Europe.

According to the CEO of Tech Data Bob Dutkowsky, acquisition of IT-Business of Avnet will help Tech Data to expand distribution opportunities in Europe and the countries of North and South America and also to enter the market, new to itself — the Pacific Rim.

The transaction with Avnet is necessary for Tech Data to go in step with technology trends which are displaced towards cloud and mobile computing, "smart" cars and Internet of Things, Dutkovski noted.

According to Bloomberg news agency, after the declaration of the transaction with Avnet of a stock Tech Data on September 19, 2016 reached the highest point since March, 1999 ($85.5), and the quotations of Avnet grew by 9.2%.^[1]

Notes