PHOENIX–Avnet, Inc. (NYSE:AVT) announced today that it has completed its acquisition of Pinnacle Data Systems, Inc. (“PDSi”). The acquisition is expected to be immediately accretive to earnings and supports Avnet’s return on capital goal of 12.5%.
“This acquisition adds another building block in our strategy to offer a new after-market services business focused on repair, refurbishment, recycling and responsible disposition of IT products,” stated Steve Church, President, Avnet Integrated Resources. “PDSi’s expertise in the reverse logistics of IT and communications hardware will complement our other acquisitions and provide opportunities to expand the range of services we can offer Avnet’s existing customer base, thereby accelerating our growth in this rapidly evolving industry.”
Founded in 1989, PDSi is a leading provider of application-specific hardware and global support solutions for the world’s largest OEMs. For the calendar year 2010, PDSi generated revenue of approximately US$29 million. PDSi will become part of Avnet Integrated Resources, which provides reverse logistics and after-market services to the global technology industry.
