Thursday, March 21, 2013

Avnet announces agreement to acquire RTI Holdings

USA: Avnet Inc. has agreed to acquire the shares of RTI Holdings Ltd., a value-added distributor of wireless, optical, telecom, data communications, and industrial components in Hong Kong and the People’s Republic of China (PRC).

In addition, Avnet will also acquire the shares of three related entities, RTI Technology China Ltd, Eastele Technology China Ltd and DSP Solutions Ltd. This transaction has received all necessary regulatory approvals and is expected to close in the next 30 days.

“China remains a high priority and key strategic focus for Avnet Electronics Marketing. The acquisition of RTI not only expands our market coverage in industrial, telecom, optical and datacom but it also strengthens our demand creation resources,” said Stephen Wong, president Avnet Electronics Marketing, Asia.

“RTI is a reputable player in the region delivering a breadth of engineering services from basic circuit design to total product solutions. The addition of RTI will further complement our strategic vision of providing best-in-class products and services to our customers in a critical growth region for Avnet.”

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