Tuesday, January 31, 2012

Avnet Buys Canvas Systems

Phoenix-based electronics distributor Avnet is on an acquisition roll, saying Tuesday that it has acquired Canvas Systems, a supplier of IT hardware and services, which serves the United States, UK, and the Netherlands. Financial details of the buy were not disclosed. Avnet said it acquired Canvas from private equity firm Platinum Equity. The acquisition follow at least 5 acquisitions by Avnet in the last six months, including the acquisition of Pinnacle Data Systems, which just completed this morning. Avnet acquired electronics recycler Round2 in December, along with computer and electronics firm Nexicore Services. Avnet said the buy will enhance its IT lifecycle management serviecs capabilities.