Avnet Acquires Canada-based ExitCertified - Quick Facts

(RTTNews) - Avnet, Inc. (AVT) said it has acquired ExitCertified, a Canada-based provider of certified IT training. Financial terms of the deal were not disclosed.

The acquisition is expected to be immediately accretive to Avnet's earnings and achieve Avnet's corporate return on capital target of 12.5 percent.

ExitCertified offers education through its training centers as well as on-site, self-paced and instructor-led online training with its MVP/iMVP virtual training platform. The company is authorized by vendors including Amazon Web Services, Brocade, Cloudera, ForgeRock, Oracle, Pivotal, Red Hat, SAP, Symantec and VERITAS.

Avnet noted that the acquisition will add a highly complementary portfolio to the training already delivered by Avnet Education Solutions through Avnet Academy, which includes authorized training from HP, IBM, Linux Foundation, Nutanix, Veeam and VMware in more than forty countries worldwide.

ExitCertified generated revenue of about $24 million in the fiscal year ended June 2015, and will be integrated into the Education Solutions group within Avnet Technology Solutions' Global Services business.