Avnet To Acquire Orchestra Service GmbH - Quick Facts

(RTTNews) - Avnet Inc. (AVT) announced it has signed an agreement to acquire Orchestra Service GmbH, a specialist German IT distributor of storage solutions and services around EMC products. Avnet said the acquisition is expected to be immediately accretive to earnings and achieve the company's return on capital goal of 12.5%.

Orchestra is a leading value-added distributor in Germany focused on backup and recovery, archiving, high availability replication and storage. Orchestra generated revenue of approximately $95 million in the 2014 calendar year, and will be integrated into Avnet Technology Solutions' EMEA business.

Graeme Watt, president, Avnet Technology Solutions EMEA, said, "Orchestra is a strong fit to our converged infrastructure solutions strategy and positions us well for growth in the third platform and the Internet of Things. This acquisition is very complementary to our existing solutions portfolio in Germany and across EMEA."