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Tech Data Closes Acquisition of Avnet Technology Solutions: Page 2 of 2

The $2.6 billion deal turns Tech Data into a globe-bestriding distribution giant while leaving Avnet smaller but flush with cash and positioned to focus strategically on opportunities in the Internet of Things and embedded systems.

By Rich Freeman

Tech Data, per its announcement in September, paid Avnet $2.4 billion in cash and 2,785,402 shares of Tech Data stock, representing about 7.3 percent of all shares currently outstanding. The company says it expects to realize approximately $100 million worth of savings within the next 24 months, but to record roughly $150 million worth of one-time expenses along the way, presumably in connection with the elimination of redundant job roles and operating groups.

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