Avnet Announces Two Acquisitions

PHOENIX (AP) — Electronics distributor Avnet Inc. said Monday it acquired two Asian technology suppliers. The acquired companies are Prospect Technology Corp., a Taiwanese electronics components distributor, .and J.C. Tally Trading Co. Ltd and its affiliate Shanghai FR International Trading, another components distributor with operations in Taiwan and China.

PHOENIX (AP) — Electronics distributor Avnet Inc. said Monday it acquired two Asian technology suppliers.

The acquired companies are Prospect Technology Corp., a Taiwanese electronics components distributor, .and J.C. Tally Trading Co. Ltd and its affiliate Shanghai FR International Trading, another components distributor with operations in Taiwan and China.

Financial terms were not disclosed.

Avnet said the move will add to its technical expertise as it expands in Asia and will immediately help net income.

Prospect Technology has 70 employees and serves customers in Taiwan and China. J.C. Tally had 2010 revenue of $90 million and has 140 employees.

Shares fell 17 cents to $29.13 in afternoon trading.

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