Electronic components, computer products and embedded technology supplier Avnet, Inc (NYSE:AVT) has snapped up certain assets IT distributer Datamation of Indonesia for an undisclosed sum.
Datamation, which was founded in 1990, generated revenues of approximately US$60 million in 2009 and has around 175 employees and 1,400 resellers which sell various IT infrastructure products for a number of suppliers, including HP, IBM and Lenovo.
"This acquisition in Indonesia supports our strategic intent to further expand our footprint into emerging markets," commented Phil Gallagher, president, Avnet Technology Solutions, Global. "As we increase our exposure to these fast growing markets and build on our global supplier relationships we will accelerate our organic growth rate."
The operations of Datamation will be integrated into Avnet Technology Solutions' Asia Pacific business, and is expected to be immediately accretive to earnings.
Avnet distributes electronic components, computer products and embedded technology into more than 70 countries and generated revenues of US$16 billion in the year ended 27 June 2009. Avnet Technology Solutions provides sales and support to customers in 35 countries and generated $7 billion in revenues for Avnet in fiscal 2009.
