Avnet, Inc. (AVT) recently earlier acquired certain assets of Sunshine Joint Stock Company of Vietnam, further expanding its presence and customer base in The Association of Southeast Asian Nations (ASEAN). Sunshine is an IT distributor providing server, storage and software products to system integrators and resellers throughout Vietnam.
Sunshine markets a portfolio of IT infrastructure products from leading vendors including Hewlett Packard (HPQ), IBM (IBM) and Lenovo. Sunshine generated revenue of approximately $33 million in 2008. The company has over 120 employees and 1,400 customers.
This acquisition will provide a solid foundation to build upon in the growing IT market in Vietnam. Management at Avnet announced that the company plans to grow its solutions distribution business in emerging markets of Asia. In October, Avnet acquired a controlling interest in Vanda Group from Hutchinson Whampoa Limited to expand its presence and customer base across China.
Vanda Group provides systems integration services and solutions incorporating hardware and software from major suppliers including IBM, Lenovo, Cisco (CSCO), Sun (JAVA), Nokia (NOK) and Oracle (ORCL). The company serves clients from diverse industries including major banks,
financial institutions, telecommunications companies, utilities and government departments. Vanda Group generated revenues of approximately $50 million in 2008 and employs more than 600 people.
The transaction will also provide the Technology Group at Avnet with a strong foothold in the banking and financial sector where Vanda’s flagship product, VisionBanking Suite, is a well-known solution.
Avnet also entered into a distribution agreement with India-based MosChip Semiconductor Technology Ltd with a view to expand arms in the emerging markets of Asia. MosChip provides high performance multimedia and connectivity solutions for consumer, industrial and computing applications. Avnet is one of the world’s largest distributors of electronic components and computer products. Avnet is one of the world’s largest distributors of electronic components and computer products.
Read the full analyst report on “AVT”
Read the full analyst report on “HPQ”
Read the full analyst report on “IBM”
Read the full analyst report on “CSCO”
Read the full analyst report on “JAVA”
Read the full analyst report on “NOK”
Read the full analyst report on “ORCL”
Zacks Investment Research
