Avnet to divest Vandasoft Technology Holdings Limited

Avnet will continue to own and operate the Vanda Hong Kong and Macau system integration business, providing systems integration services and solutions incorporating hardware and software from major suppliers. "This transaction divests a non-core asset for Avnet and will allow the Vanda China team to join PCCW Solutions, the IT services flagship of the PCCW Group, where they can fully leverage their capabilities," stated William Chu, President of Avnet Technology Solutions Asia Pacific. This transaction is expected to be completed by the end of November 2012.