Tech Data to buy Avnet's technology solutions business for $2.8B

Posted online September 19, 2016 | 11:37 am

Tech Data Corp. announced plans to purchase Avnet's technology solutions business in a cash-and-stock deal valued at $2.8 billion.

Avnet shared moved up 2 percent in premarket trading Monday.

"This combination complements our value-added distribution capabilities in Europe and the Americas, while establishing Tech Data's presence in Asia-Pacific, which will be a new market for us," CEO Bob Dutkowsky said.

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