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Tech Data to buy Avnet Technology Solutions for USD 2.6 bln

2016-09-19 14:41:00| Telecompaper Headlines

(Telecompaper) Avnet has agreed to sell its Technology Solutions division to rival Tech Data for USD 2.6 billion. The company said it will focus going forward on design and supply chain services, and especially high growth areas like the IoT, embedded solutions and critical platforms. It will partner with Tech Data on serving the IoT solutions market. Avnet will receive USD 2.4 billion in cash and 2.8 million shares in Tech Data as payment for the operations.

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