Tuesday, October 5, 2010

Avnet acquires two companies

Avnet distributes electronic components, connectors, semiconductors, technology solutions, computer products and embedded technology.

Avnet Inc. yestgerday announced it had made two acquisitions: certain assets of Eurotone Electric Ltd., a distributor of inverters for wind and solar power applications in China, and Broadband Integrated Resources Ltd., a U.S. company specializing in the repair of broadband and cable TV equipment for support of cable operators and manufacturers.

Broadband, with facilities in Columbus and Dallas, has 50 employees and revenue of $9.5 million, according to Phoenix-based Avnet. Founded in 2001, it will become part of Avnet Logistics Services, which provides value added supply chain and logistics services to the global technology industry.

"This acquisition demonstrates our commitment to expand into adjacent services opportunities and provides an entry into the reverse logistics business as well as a new customer base in North America," stated Steve Church, Senior Vice President; Chief Business Development and Process Officer. "With management, systems and processes that have built a successful reverse logistics business, Avnet Logistics Services will gain a proven platform upon which we can expand our service offerings."

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