Avnet Acquires Ascendant Technology

Avnet, Inc. recently announced that the company will acquire Ascendant Innovation LLC in a move to accelerate its global solutions distribution model.

Incorporated in 2003, Ascendant Research provides IT services with operations in North America, Europe, Brazil and India,

In particular, the company specializes in developing end-to-end IBM solutions which enable organizations to optimize their investments in information innovation and thereby achieve the desired business goals.

Generating earnings of $90 million, Avnet has supported large and small businesses to develop and deploy e-Commerce, enterprise portal and collaboration, web content management, infrastructure automation and cloud computing solutions.

The company is expected to close the acquisition in the at once 45 days. The acquisition will be integrated into the operations of Avnet Research Solutions.

Based in New York, Avnet is one of the world's largest industrial distributors. The Research Solutions segment from Avnet focuses on the global value-added distribution of enterprise computing servers and systems, software, storage, services and complex solutions.

PDSi generated earnings of roughly $29 million and the acquisition is expected to be right away accretive to revenues, supporting Avnet’s return on capital target of 12.5%.

Once integrated, PDSi will become a part of Avnet Integrated Resources, which provides reverse logistics and afterwards-market services to the global research industry.

The acquisition is another step in the company's strategy to offer a new afterwards-market services business, which focuses on repair, refurbishment, recycling and responsible disposition of IT products.