Avnet to acquire the HP Division of Servodata a.s. in Czech Republic
Transaction Extends Avnet’s Leadership Position in Value-Added Solutions Distribution
Prague, Czech Republic -- Avnet, Inc. (NYSE: AVT) announced today that it has entered into a definitive agreement to acquire certain assets of value-added distributor Servodata a.s. in the Czech Republic. The acquired assets will be integrated into the operations of Avnet Technology Solutions (TS), the value-added solutions distribution leader and an operating group of Avnet, Inc. This acquisition brings Avnet’s reseller partners in the local market a broader product offering and additional technical expertise enabling resellers to expand their value and grow faster.
Founded in 1991, Servodata is a value added distributor of enterprise solution components and infrastructure. Through this acquisition Avnet will be able to provide servers, storage systems, software and services of HP to resellers in the Czech Republic and builds on Avnet’s expansion strategy in Central Europe as well as extending its successful partnership with HP. The acquisition is subject to customary regulatory approval and is expected to close in the second quarter of 2010.
“This acquisition further solidifies our leadership position as the premier value added distributor in the Czech Republic while bringing a talented group of people helping to expand our HP practice in the Czech Republic.” said Dick Borsboom, president of Avnet Technology Solutions, EMEA.
“This divestiture of our HP business helps us focus on our core business and gives the team joining Avnet a great opportunity to be part of a larger organization that is recognized as a global leader in value added solutions distribution,” added Rostislav Jirkal, general manager of Servodata.
About Avnet Technology Solutions
As a global solutions distributor, Avnet Technology Solutions collaborates with its customers and suppliers to create and deliver effective solutions that address the business challenges of their end-user customers locally and around the world. For fiscal year 2009, the group served customers in more than 30 countries and generated US $7.04 billion in annual revenue. Avnet Technology Solutions is an operating group of Avnet, Inc. Visit: www.ts.avnet.com/emea/
Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology in the world. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of more than 100,000 customers and providing cost-effective, value-added services and solutions. For the fiscal year ended June 27, 2009, Avnet generated revenue of $16.23 billion. For more information, visit www.avnet.com.
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