Electronic Parts Distributor Avnet Buys Amosdec

PHOENIX (AP) — Electronic parts distributor Avnet Inc. said Tuesday it has agreed to buy Amosdec SAS, another technology distributor based in Paris. Financial terms were not disclosed. Amosdec had 2010 revenue of about $90 million, Avnet said. "Amosdec's in-depth expertise in software and services, combined with Avnet's strength in the data center, further expands our value proposition for reseller partners and suppliers in Europe," said Graeme Watt, president of Avnet's technology solutions business in Europe, the Middle East and Africa.

PHOENIX (AP) — Electronic parts distributor Avnet Inc. said Tuesday it has agreed to buy Amosdec SAS, another technology distributor based in Paris.

Financial terms were not disclosed. Amosdec had 2010 revenue of about $90 million, Avnet said.

"Amosdec's in-depth expertise in software and services, combined with Avnet's strength in the data center, further expands our value proposition for reseller partners and suppliers in Europe," said Graeme Watt, president of Avnet's technology solutions business in Europe, the Middle East and Africa.

The deal is expected to close in July. Avnet expects the acquisition to increase its earnings immediately.

Shares of Avnet fell 84 cents, or 2.3 percent, to $36.02 in morning trading amid a broader market decline. The stock has traded in the 52-week range of $22.39 and $38.

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