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Avnet unit buys Azure Technologies


Published : Mon, 16 Apr 2007 18:57
By : Agencies
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NEW YORK (AP) - Electronic component and computer distributor Avnet Inc. said Monday it has expanded its distribution business in Southeast Asia with the purchase of Azure Technologies.

Azure Technologies, which was bought by Avnet Asia Pte. Ltd., distributes IBM systems and has annual revenue of about $90 million, said Avent, which bought the company from Vanda Group.

Azure operates in Singapore and Malaysia.

Avnet shares rose 35 cents to $38.65 during afternoon trading on the New York Stock Exchange.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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