Friday, November 2, 2007

Avnet Buys Australian Electronics Distributor

Phoenix, Arizona-based Avnet said Thursday that it has acquired ChannelWorx Pty Ltd, a Melbourne, Australia-based distributor of networking and security products. Financial terms of the acquisition were not disclosed, however Avnet said that ChannelWorx had revenues of approximately $30M for its fiscal year, ended June 30, 2007. According to Avnet, Channelworx will become part of Avnet Technology Solutions, which already maintains a business in Australia.