Avnet Inc. (NYSE: AVT), Phoenix, AZ, said it will acquire Softweb Solutions, Inc., a privately held software and Artificial Intelligence (AI) company that offers Internet of Things (IoT) applications and systems designed to "increase efficiency, speed time to market, and help businesses transform."
The deal expands the electronic components distributor's IoT business and adds new capabilities to its software solutions and overall service offerings. The transaction is expected to close by the end of the year, the company said.
© 2019 Gale Media, Inc.
Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit www.mdm.com/reprints. MDM welcomes inbound links from your site. Please cite Modern Distribution Management.
The 2018 Top Distributors List
This free PDF includes lists of top distribution companies across 14 sectors.
You will also receive MDM Update, our daily distribution e-newsletter & other distribution-focused content.
Download the Free PDF now >>
MDM Update: Daily Newsletter
Sign up to read the best source for news & trends in wholesale distribution, MDM Update. Delivered daily to your inbox.
Sign-up for MDM Update >>