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linda.patterson@avnet.comPress Centre
Keeping you up-to-date with all the latest news and information. For media-related inquiries, please contact:Linda Patterson
Marketing Director
Avnet Technology Solutions Ltd.
5 The Sterling Centre, Eastern Road
Bracknell, Berkshire, RG12 2PW
Tel: 01344 662091
Email: linda.patterson@avnet.com
Latest Press Releases
June 2008
Avnet, Inc. Acquires Horizon Technology Group plc
Phoenix, Arizona – June 30, 2008 -– Avnet, Inc. (NYSE:AVT) announced today through its wholly-owned subsidiary, Avnet (Holdings) Limited, that its offer for Horizon Technology Group plc (Horizon) has been declared unconditional in all respects. As had been previously announced, all shareholders of Horizon will receive €1.18 per share, which equates to an equity value of approximately €98.5 million ($156.1 million). Horizon is a leading technical integrator and distributor of information technology products in the UK and Ireland. The transaction is expected to be accretive to earnings by approximately $0.10 per share in FY2009, excluding integration charges, and supports Avnet’s long-term return on capital goals.
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May 2008
Avnet Technology Solutions named as first Authorised Independent Training Provider for IBM Systems in the UK
Avnet Technology Solutions Ltd has been appointed the first Authorised Independent Training Provider (AITP) for IBM systems in the UK. Avnet will provide IBM authorised training for System i, System p and System x, in THE [resource] centre at its Bracknell, Berkshire location.
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April 2008
Avnet Expanding Central European Logistics and Integration Center in Tongeren
Avnet, Inc. (NYSE:AVT), a global technology distribution and services company, has broken ground on a 10.000 m2 expansion of its Tongeren, Belgium, central distribution center, which houses both a pan-European distribution and logistics operation and an integration center, primarily serving Avnet Technology Solutions EMEA customers. The total area will be 34.000 m2, doubling the size of its current integration services area.
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Avnet, Inc. Reports Third Quarter Fiscal Year 2008 Results
Avnet, Inc. (NYSE:AVT) today reported revenue of $4.42 billion for third quarter fiscal 2008 ended March 29, 2008, representing an increase of 13.3% over third quarter fiscal 2007 and 8.4% excluding the impact of changes in foreign currency exchange rates. Pro forma revenue growth, as defined in the Non-GAAP Financial Information Section, was 7.1% over the prior year third quarter. Net income for third quarter fiscal 2008 was $107.2 million, or $0.71 per share on a diluted basis, as compared with net income of $105.2 million, or $0.70 per share, for the third quarter last year. Included in the current quarter and year ago quarter results are restructuring, integration and other items amounting to $0.05 and $0.03 per share on a diluted basis, respectively. Excluding these items, diluted earnings per share in the third quarter fiscal 2008 was $0.76, representing an increase of 4.1% over the year-ago period.
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Avnet Announces Cash Offer to Acquire HORIZON TECHNOLOGY GROUP PLC
Avnet, Inc. (NYSE:AVT) announced on Friday that through its wholly-owned subsidiary, Avnet (Holdings) Limited, the Company plans to acquire Horizon Technology Group PLC in an all cash offer for €1.18 per share, which equates to an equity value of approximately €98.5 million ($156.1 million) and a transaction value of €94.4 million ($149.6 million) assuming a net cash position for Horizon of €4.1M as of December 31, 2007. Horizon is a leading technical integrator and distributor of information technology products in the UK and Ireland. The transaction, which is subject to, among other things, the completion of a tender offer under the Irish Takeover Rules and EU merger control clearance, is expected to close by the end of June 2008.
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Avnet to Distribute eCopy Document Imaging Software to Channel Partners in EMEA
Avnet Technology Solutions, a value-added distributor of enterprise computing products, and eCopy, Inc., a provider of document imaging solutions that integrate paper documents into business software applications, today announced a distribution agreement for Europe, the Middle East and Africa (EMEA). The agreement enables Avnet to distribute eCopy document imaging products to its extensive group of channel partners.
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February 2008
Avnet Technology Solutions appoints Miriam Murphy as IBM Business Group Leader for EMEA region
Avnet Technology Solutions, an operating group of global technology distributor Avnet, Inc. (NYSE: AVT), today announced the appointment of Miriam Murphy as leader for the IBM Product Business Group in EMEA. In this role Murphy will be responsible for the strategic direction and growth of Avnet’s IBM business in Europe, the Middle East and Africa.
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Virtual Iron Continues European Channel Expansion with Avnet
Virtual Iron Software (www.virtualiron.com), a provider of enterprise-class server virtualization software, and Avnet Technology Solutions, a value-added distributor of enterprise computing products, today announced the expansion of their European distribution partnership. The agreement expands the availability of Virtual Iron’s software solutions through Avnet to Austria, Switzerland, The United Kingdom, France, Poland, Czech Republic, Slovakia, Hungary, Slovenia, Romania, Russia, The Netherlands, Luxembourg, and Ukraine. Avnet has been promoting and selling Virtual Iron in Belgium, Germany and Italy since June 2007.
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Avnet Inc.: Reports Second Quarter Fiscal Year 2008 Results Sales, EPS and ROCE Set Second Quarter Records
Avnet, Inc. (NYSE:AVT) today reported revenue of $4.75 billion for second quarter fiscal 2008 ended December 29, 2007, representing an increase of 22.2% over second quarter fiscal 2007. Pro forma revenue growth, as defined in the Non-GAAP Financial Information Section, was 6.3% over the prior year second quarter. Net income for second quarter fiscal 2008 was $142.2 million, or $0.93 per share on a diluted basis, as compared with net income of $99.1 million, or $0.67 per share, for the second quarter last year. Included in the current quarter results are a one-time gain on the sale of a building and an additional gain from a prior sale of a business resulting from the receipt of a contingent payment.
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January 2008
Avnet Chairman and CEO Roy Vallee to Ring the NYSE Closing Bell Live from the Super Bowl XLII Complex in Arizona
Avnet, Inc. (NYSE:AVT), a leading global technology distributor, announced today its Chairman and CEO Roy Vallee will join all Arizona NYSE Euronext-listed company chairmen, CEO's and senior executives live from Arizona to ring The Closing Bell®, Friday, February 1, 2008. The Closing Bell signifies the close of trading on the NYSE, and will mark the kick-off of Arizona hosting Super Bowl XLII weekend.
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December 2007
Avnet, Inc. Completes Acquisition of IT Solutions Division of Acal plc
Avnet Inc. (NYSE: AVT) today announced that it has completed its acquisition of the IT Solutions Division of Acal plc. The acquired business, which has annual revenues of approximately $200 million, is a leading European value-added distributor for Storage Networking (SAN), Networking, Security, Electronic Document Management, as well as managed and professional services. The division, which has operations in the UK, the Netherlands, Belgium, Germany, France and Sweden, will be integrated into Avnet Technology Solutions’ EMEA business.
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November 2007
BakBone Announces European-Wide Distribution Agreement with Avnet
19 November, BakBone Announces European-Wide Distribution Agreement with Avnet
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October 2007
Avnet, Inc. Reports First Quarter Fiscal Year 2008 Results
PHOENIX, Oct 25, 2007 - Avnet, Inc. (NYSE:AVT) today reported revenue of $4.10 billion for first quarter fiscal 2008, ended September 29, 2007, representing an increase of 12.3% over first quarter fiscal 2007. Net income for first quarter fiscal 2008 was $105.5 million, or $0.69 per share on a diluted basis, as compared with net income of $64.1 million, or $0.44 per share on a diluted basis, for the first quarter last year. Excluding debt extinguishment costs that negatively impacted the prior year quarter, net income and diluted earnings per share increased 31% and 25%, respectively, over the year-ago period. Included in these results is stock compensation expense of $0.05 per diluted share in the current year first quarter as compared with $0.03 per share in the same period last year.
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Avnet, Inc. Completes Acquisition of Magirus Enterprise Infrastructure Division
Phoenix, Ariz. – October 8, 2007 – Avnet, Inc. (NYSE:AVT) today announced that it has completed its acquisition of the Enterprise Infrastructure Division of Magirus Group. The acquired business, which has annual revenues of approximately $500 million, is a value-added distributor of IBM and Hewlett-Packard enterprise computing products in seven European countries and Dubai. The acquisition is expected to meet or exceed the company’s stated return-on-capital-employed goal and add approximately $0.08 EPS in calendar 2008. The integration of the acquired business into Avnet’s Technology Solutions group in Europe is expected to be essentially complete by June 2008.
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September 2007
Avnet, Inc. to Acquire IT Solutions Division of Acal plc
Phoenix, Arizona, September 27, 2007 -- Avnet, Inc. (NYSE:AVT) announced that it has reached a definitive agreement with Acal plc for Avnet to acquire the IT Solutions division of Acal plc. Acal IT Solutions is a leading value-added distributor for Storage Area Networking (SAN), Secure Networking and Electronic Document Management products and services, with operations in the UK, the Netherlands, Belgium, Germany, France and Sweden. The closing of the transaction is subject to approval by Acal shareholders and EU merger control clearance.
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August 2007
Avnet, Inc. Reports Fourth Quarter and Fiscal Year 2007 Results
PHOENIX, Aug 08, 2007 -- Avnet, Inc. (NYSE:AVT) today reported record revenue of $4.24 billion for fourth quarter fiscal 2007, ended June 30, 2007, representing an increase of 17.3% over fourth quarter fiscal 2006. Organic (pro forma) revenue growth, as defined in the Non-GAAP Financial Information section, was 4.0% over the prior year fourth quarter. Net income for fourth quarter fiscal 2007 was $124.7 million, or $0.81 per share on a diluted basis, as compared with net income of $58.8 million, or $0.40 per share on a diluted basis, for the fourth quarter last year. Excluding certain items noted below, net income was a record $123.9 million, or $0.81 per share on a diluted basis, representing a 42.4% and 37.3% increase, respectively, over the year-ago period. The Company's effective tax rate for the 2007 fiscal year came in at approximately 33%, thereby positively impacting its fourth quarter results by roughly $0.02 per share.
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Creating Future-capable Structures for Continued Growth
Bracknell, UK, 7 August 2007 – With a new corporate structure, Avnet Technology Solutions is creating better customer orientation while at the same time driving solution sales forward. The company is abandoning its business unit-based business model across Europe and will in the future continue on its growth path under a uniform market presence.
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July 2007
Avnet to Acquire Magirus Enterprise Infrastructure Division
Phoenix, 19 July 2007 – Avnet, Inc., (NYSE: AVT) announced today that it has entered into a definitive agreement to acquire the European Enterprise Infrastructure Division of value-add distributor Magirus Group. With annual revenues of approximately $500 million, the acquired business will be integrated into the European operations of Avnet Technology Solutions (TS), the IT distribution group of Avnet, Inc. The agreement covers the distribution of servers, storage systems, software and services of IBM and Hewlett-Packard to resellers in seven European countries and Dubai. With this transaction, Magirus is exiting the IBM and HP enterprise business and will in the future concentrate on building other segments of its business.
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June 2007
Avnet Partner Solutions Steps Up Sun Business Partner Recruitment
Avnet Partner Solutions, Sun Division today announced it has doubled the number of its Business Partners in the UK in the last six months. This 100% increase was the result of an extensive recruitment campaign following a review of the market place and research of reseller requirements in the current business and economic climate. Avnet Partner Solutions, Sun Division is a part of Avnet Technology Solutions, a leading alue-added distributor serving channel partners globally.
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April 2007
Dick Borsboom Selected as President of Avnet Technology Solutions, EMEA
Nettetal, 11 April, 2007 – Avnet Technology Solutions, an operating group of global technology distributor Avnet, Inc. (NYSE: AVT), today announced the appointment of Dick Borsboom as president of Avnet Technology Solutions, EMEA, effective immediately. As president, Borsboom will be responsible for the strategic direction and growth of Avnet’s computing business in Europe, Middle East and Africa (EMEA). Currently, the Technology Solutions group in EMEA generates US $1.3 billion in revenue and delivers computing technology to resellers, system integrators, system builders and embedded OEMs in 14 countries across Europe while continuing to expand its presence. Borsboom will report to John Paget, president, Avnet Technology Solutions, worldwide.
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Avnet Technology Solutions EMEA Fact Sheet
Each quarter, we summarise our key milestones and financial facts for that quarter. Please take a moment to review our latest Fact Sheet.
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Avnet Inc Annual Report
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