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Avnet To Sell It Business To Tech Data For $2.6 Billion

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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(Reuters) - U.S. electrical components distributor Avnet Inc said it would sell its IT business to technology products distributor Tech Data Corp for about $2.6 billion. Avnet said it expects to realize a gain of $3.75 to $4.75 per share after the cash-and-stock deal closes. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Savio D'Souza)

 

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