Avnet gets a leg-up in Asia
- 19 April, 2007 08:29
Avnet Technology Solutions has acquired Asian IBM distributor, Azure Technologies, as part of plans to expand its value-added distribution business across the region. Financial details have not been disclosed.
Avnet's national marketing manager, Michael Costigan, said the purchase was the first of many planned in Asia-Pacific.
"This deal expands our presence - it's the first step in making us a serious player in the market," he said. "Our Asia-Pacific president, KP Tang, was brought on two years ago and charged with growing the business and expanding our footprint.
"It [This acquisition] gives us more market leverage. And there are more to come."
Although Azure has no Australian operations, Costigan said it would give Avnet access to a support network of value-added distribution houses with server and storage infrastructure and solutions expertise through south-east Asia.
Azure Technologies, which has focused on IBM since its inception in 1995, has offices in Singapore and Malaysia and retains 100 employees. According to a statement, its annual revenues now exceed $US90 million. The company was a wholly-owned subsidiary of IT solutions provider, Vanda Group, which is owned by Hutchison Whampoa.
Vanda Group executives said it offloaded the Azure business to focus more closely on IT services in China. The pair would continue to have a close business relationship, the executives said.