Avnet Completes Vietnamese Buy

Phoenix-based Avnet, a distributor of electronics products, said late Monday evening that it has completed its acquisition of certain assets of Vietnamese firm Sunshine Joint Stock Company. The firm said that Sunshine had revenues of approximately $33M in calendar 2008, marketing a portfolio of IT infrastructure products. Sunshine has over 120 employees, and according to Avnet over 1,400 customers. Financial details of the acquisition were not disclosed. Avnet said that the buy would further expands its presence and customer base in Asia.