Key Developments: Avnet Inc (AVT)
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18 Jun 2013
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$34.24
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Latest Key Developments (Source: Significant Developments)
Avnet Inc Announces Agreement To Acquire Assets Of Seamless Technologies, Inc.
Avnet, Inc. announced that it has agreed to acquire substantially all of the assets of Seamless Technologies, an IT private cloud and data center automation service provider. Seamless Technologies provides services in IT infrastructure software technologies, automation, cloud, virtualization, integration, and Information Technology Infrastructure Library (ITIL) best practices. No additional terms of the transaction were disclosed. Full Article
Macronix And Avnet Inc's Avnet Memec Announce Distribution Partnership
Avnet Memec, an Avnet Inc. announced that it has been selected as a pan-European distributor for Macronix International Co., Ltd., a provider of non-volatile memory semiconductor solutions. The new agreement enables Avnet Memec to bring NOR, NAND and ROM technology to its customers across Europe at the earliest stage of their design. Full Article
Avnet Inc Issues Q4 2013 Guidance In Line With Analysts' Estimates
Avnet Inc announced that for the fourth quarter of 2013, it expects sales to be in the range of $3.70 billion to $4.0 billion and TS sales to be between $2.45 billion and $2.75 billion. Consolidated sales are forecasted to be between $6.15 billion and $6.75 billion and adjusted diluted earnings per share (EPS) to be in the range of $0.90 to $1.00 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $6.45 billion and EPS of $1.00 for the fourth quarter of 2013. Full Article
Avnet Inc Announces Agreement to Acquire RTI Holdings
Avnet Inc announced that it has agreed to acquire the shares of RTI Holdings Ltd., a value-added distributor of wireless, optical, telecom, data communications, and industrial components in Hong Kong and the People`s Republic of China (PRC). In addition, Avnet will also acquire the shares of three related entities, RTI Technology China Limited, Eastele Technology China Limited, and DSP Solutions Limited. This transaction has received all necessary regulatory approvals and is expected to close in the next 30 days. Full Article
Invensense Inc And Avnet, Inc's Avnet Memec Announces Distribution Agreement
Invensense Inc and Avnet Memec, an Avnet, Inc. company, announced the formation of a pan-European value-added distribution agreement. With the new partnership, Avnet Memec is chartered with sales and value-added support for InvenSense's MotionTracking devices throughout Europe and Israel. Full Article
Eurotech SpA Expands Distribution Agreement with Avnet Inc's Avnet Electronics Marketing Americas to Include M2M Platform in North America
Eurotech SpA announced that the Company has expanded its distribution agreement with Avnet Electronics Marketing Americas, a business region of Avnet Inc, adding its M2M Platform to Avnet’s line card. This contract extension includes Eurotech’s Everyware Software Framework, a device application framework, and the Everyware Cloud, an integrated M2M device and data management platform. Eurotech is distributed through the Avnet Embedded division of Avnet Electronics Marketing Americas. Full Article
Avnet Inc Issues Q3 2013 Guidance; EPS Guidance Above Analysts' Estimates
Avnet Inc announced that for the third quarter of 2013, it expects sales to be in the range of $3.625 billion to $3.925 billion and TS sales to be between $2.325 billion and $2.625 billion. Consolidated sales are forecasted to be between $5.95 billion and $6.55 billion and adjusted diluted earnings per share (EPS) to be in the range of $0.81 to $0.91 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $5.95 billion and EPS of $0.78 for the third quarter of 2013. Full Article
Avnet Inc Announces Acquisition of TSSLink Inc
Avnet Inc announced that it has acquired TSSLink Inc an IT professional services organization providing technical support, consulting and outsourcing services, field product installation, end-user training and technical staff augmentation. Headquartered in San Jose, California, TSSLink`s certified engineers provide field services across North America assisting business partners with value-add consulting for storage and virtualization solutions. These services include order management, field installation, configuration and implementation. Financial terms of the transaction were not disclosed. Full Article
Avnet Inc Announces Agreement to Acquire Assets of USI Electronics
Avnet Inc announced that it has agreed to acquire substantially all of the operating assets of Universal Semiconductor, Inc. , USI Electronics, a distributor of discrete semiconductor, passive and electromechanical components to the military and aerospace customers. USI Electronics services a broad customer base of small, medium, and large OEM business partners and differentiates itself by having the flexibility to provide same day shipping, same day tape and reeling, and personalized service while offering the technological solutions necessary to compete as a world-class global distributor. This transaction is expected to close within thirty days and will be integrated into Avnet Electronics Marketing, Americas. Terms of the transaction were not disclosed. Full Article
Avnet Inc Names Kevin Moriarty As Chief Financial Officer
Avnet Inc announced that it has named Kevin Moriarty as Avnet Chief Financial Officer (CFO), effective January 2, 2013. As announced in April, Avnet’s current Chief Financial Officer Ray Sadowski will be retiring from his position after 20 years as CFO. Full Article
CORRECTED-Avnet quarterly profit falls on higher expenses
April 25 - Electronic products distributor Avnet Inc reported a 42 percent drop in quarterly profit, hurt by higher expenses.
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