Thursday, March 21, 2013
Avnet Buys Asian Components Distributor
Phoenix-based electronics components distributor Avnet has acquired another company, this time a distributor of wireless, optical, telecom, data communications, and industrial components in Hong Kong and the People's Republic of China. Avnet said it has agreed to acquired the shares of RTI Holdings ltd., along with related entities RTI Technology China Limited, Eastele Technology China Limited, and DSP Solutions Limited. Financial terms of the buy were not disclosed. RTI was founded in 1989, and has over 120 employees; Avnet said RTI had revenues of approximately $80M in the 2012 calendar year.