Monday, February 27, 2017

Avnet Sells Technology Solutions Unit To Tech Data For $2.6 Billion

Phoenix-based Avnet announced this morning that it has completed the sale of its Technology Solutions busines unit to Tech Data. The deal was worth $2.4 billion in cash and approximately $245M in shares of Tech Data common stock. Avnet said it is now solely focused on electronic components and integrated and embedded solutions. The two companies had originally announced the deal in September of 2016. William Amelio is CEO of Avnet.