Expands Its Portfolio of Storage Solutions
Avnet, Inc. (NYSE:AVT) announced today that it has completed the
acquisition of Orchestra Service Gmbh (Orchestra), a German IT
distributor of innovative storage solutions and services for EMC
products. Headquartered in Munich, Germany, Orchestra provides strong
storage-centric expertise to help its customers grow and take advantage
of the many opportunities that exist in areas such as cloud computing,
big data and information management. Founded in 1998, Orchestra is a
leading value-added distributor focused on backup and recovery,
archiving, high availability replication and storage.
"The acquisition of Orchestra is part of our long-term strategic plan to
expand Avnet's solutions portfolio in the region, while strengthening
our EMC partnership in Germany," said Patrick Zammit, president of Avnet
Technology Solutions, global. "Orchestra's capabilities are an excellent
complement to our converged infrastructure solutions offerings and
enhance our ability to accelerate growth for our partners throughout the
Orchestra generated revenue of approximately US$95 million in the 2014
calendar year. The acquisition is expected to be immediately accretive
to Avnet earnings and achieve its return on capital goal of 12.5%.
About Avnet, Inc.
From components to cloud and design to disposal, Avnet,
accelerates the success of customers who build, sell and use technology
globally by providing them with a comprehensive portfolio of innovative
products, services and solutions. Avnet is a Fortune 500 company with
revenues of $27.9 billion for the fiscal year 2015. For more
information, visit www.avnet.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151103005407/en/
Vincent Keenan, 480-643-7053
Source: Avnet, Inc.
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