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Avnet to Acquire Softweb Solutions; Adds Software and Artificial Intelligence to Ecosystem and Bolst

Wednesday, December 12, 2018   (0 Comments)
Posted by: Sandy Thomas
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Avnet, Inc. (Nasdaq: AVT) today announced that it will acquire Softweb Solutions, Inc., a privately held software and Artificial Intelligence (AI) company that delivers innovative software solutions for Internet of Things (IoT) applications and systems designed to increase efficiency, speed time to market, and help businesses transform.

Building on Avnet and Softweb’s track record for bringing IoT solutions to market, today’s announcement formalizes a game-changing element of Avnet’s overall solutions strategy. The integration of Softweb’s best-of-breed AI software for IoT applications, along with its data services and digital process capabilities, provides Avnet with a rapid design, development, and deployment capability that further enhances Avnet’s unique end-to-end ecosystem and provides for new and recurring, margin-enhancing revenue opportunities.

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