Avnet, Inc. Announces Agreement to Acquire BrightStar Partners, Inc. and BSP Software LLC
Further strengthens Avnet's IBM solutions portfolio by adding Business Analytics and Performance Management expertise
In addition to professional services, BSP develops and distributes Implementation-Based
Software® applications that extend business value and assist in the
administration, development and support of IBM Cognos software. BSP also
owns and operates COGNOiSe.com,
the world's largest independent peer-to-peer collaborative IBM Cognos
support community, with more than 15,000 members worldwide. As an
end-to-end solutions provider, BSP partners with companies to improve
their business performance through maximizing their investment in
technology and processes to drive better information throughout the
enterprise. The company generated revenue of approximately
"This acquisition is part of our long-term strategy to enhance the depth
and breadth of our IBM services and software capabilities while
providing the expertise our partners need," said
Founded in 2004, BrightStar Partners' broad technical and business
experience provides the highest quality end-to-end solutions to help
enterprises realize the benefits from their reporting, analysis,
dashboarding, data warehousing, planning and consolidation solutions,
all while shortening the time to market for implementation and realizing
true business value.
"BSP's expertise is directly aligned with our industry-leading vertical
market practices and will support partners' ability to deliver
increasingly complex and customized IT solutions needed by customers in
high growth markets," added
This acquisition is expected to be immediately accretive to earnings and supports Avnet's return on capital goal of 12.5%.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's current expectations and are subject to uncertainty and changes in facts and circumstances. The forward-looking statements herein include statements addressing future financial and operating results of Avnet and may include words such as "will," "anticipate," "expect," believe," "intend," and "should," and other words and terms of similar meaning in connection with any discussions of future operating or financial performance or business prospects. Actual results may vary materially from the expectations contained in the forward-looking statements.
The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the Company's ability to retain and grow market share and to generate additional cash flow, risks associated with any acquisition or disposition activities, the successful integration of acquired companies, any significant and unanticipated sales decline, changes in business conditions and the economy in general, changes in market demand and pricing pressures, any material changes in the allocation of product or product rebates by suppliers, allocations of products by suppliers, other competitive and/or regulatory factors affecting the businesses of Avnet generally.
More detailed information about these and other factors is set forth in
Avnet's filings with the
About Avnet
Investor Relations Contact:
Vice President, Investor Relations
vincent.keenan@avnet.com
Public
Relations Contact:
Vice
President, Public Relations
michelle.gorel@avnet.com
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