Avnet acquires ROUND2 Technologies

Avnet has entered into a definitive agreement to acquire ROUND2 INC. and its parent Round2 Technologies, Inc. The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of ROUND2's shareholders as well as customary closing conditions. The transaction is expected to close on January 3, 2012. "The acquisition of Round2 Technologies is important to Avnet, as it complements our strategy to offer a total solution to the after-market services industry. With ROUND2's strong presence and capabilities in e-waste disposal, coupled with our other announced acquisitions, we can now offer call center services, repair and refurbishment, including complex repairs, and environmentally responsible disposal of those assets that no longer have usability," stated Steve Church, President, Avnet Integrated Resources.