Avnet acquires Asia-based IBM systems distributor
By Colleen Taylor, Contributing Editor -- EDN, April 16, 2007
Avnet Technology Solutions, an operating group of Phoenix, Arizona-based global technology distributor Avnet Inc. today announced the acquisition of Vanda Group's Azure Technologies by Avnet's Asian subsidiary.
Financial terms of the deal have not been disclosed.
Azure Technologies, which operates through various entities in Singapore and Malaysia, has been focused on the distribution of IBM systems and solutions since 1996, with annual revenues of over $90 million and more than 100 employees, Avnet said.
The companies said the acquisition is a strategic development that will expand Avnet's presence in the Asia Pacific region, while also strengthening the company's relationship and business with IBM and other major IT vendors. According to Avnet, the deal is set to extend value-added IT distribution to Southeast Asia.
"Azure Technologies is a great fit for Avnet Technology Solutions, and this acquisition provides a variety of significant capabilities and competitive advantages, both immediately and in the longer-term," K.P. Tang, president of Avnet Technology Solutions Asia Pacific, said in a statement.
More similar deals are in the works, Avnet Technology Solutions said. In today's statement, the company said it intends to continue expanding in the region "both organically and through acquisitions that meet its business criteria."
