Avnet completes sale of Technology Solutions to Tech Data

“Today marks a critical stage in the transformation of Avnet. We have doubled down on our electronic components and integrated and embedded solutions business, which is complemented by our reach into a broader market of customers in the idea stage through our recent acquisitions of Premier Farnell and Hackster,” said William Amelio, CEO of Avnet. “We will now be able to focus all of our attention and considerable expertise and scale in supporting our customers at every phase of the product lifecycle with services that offer a time to market advantage. We also have substantial financial resources to further drive our targeted investments in integrated and embedded solutions, IoT and digital platforms to create even more opportunities for makers, entrepreneurs and large manufacturers.” Moving forward, the company will operate globally under the single name Avnet, dispensing with the business unit moniker “Electronics Marketing.”