Avnet Buys Two Asian Firms

Phoenix-based electronics distributor Avnet said today that it has acquired two Asian distribution firms. Avnet said it acquired Prospect Technology, an electronics components distributor in Taiwan with 70 employees, and J.C. Tally Trading Co., Ltd. and affiliate Shanghai FR International Trading, which also has operations in Taiwan as well as China. Financial terms of the acquisition were not disclosed, however, Avnet did say that J.C. Tally Trading had approximately $90M in revenues in calendar 2010.