Avnet completes joint venture in Turkey

Under the terms of the agreement, Avnet acquired a 50.01 percent interest in the joint venture, which includes the operations of Akora Technology and Industry Corporation (Akora). Dick Borsboom, president of Avnet Technology Solutions, EMEA, commented, "The joint venture provides us with an established footprint in the Turkish IT market, which is projected to grow at a double-digit rate over the next several years. With an experienced management team, extensive reseller relationships, and systems and logistics infrastructure already in place, we plan to build on our global supplier relationships and solutions practices to grow a value-added distribution business that offers a full range of technical and business solutions. Avnet Technology Solutions Sanayi ve Ticaret A.S. will be focused on expanding the portfolio to include additional technologies, such as enterprise infrastructure, storage, networking, security and virtualization."