Avnet launches ACS in Europe
Avnet, the US electronics distribution giant, yesterday announced the official launch of its Applied Computing Solutions division in Europe.
It will be headed by Jerry Kagele, already a senior Avnet exec.
The business unit is one of three within Avnet's Applied Computing division, all of which target system builders. The company claims run rate revenues of $2bn for this division.
Avnet today has bought Sunrise, a $230m t/o distie serving the mainland Chinese OEM market. The cash transaction (price not revealed) will be slightly accretive to earnings from day one, the company says.
Bytes Technology Group, the South African computer services group formerly known as USKO, said problems were greater than had been expected.
The company which changed its name to its UK reseller subsidiary last year has conducted a "comprehensive" reorganisation, executive chairman David Redshaw told ITWeb, including several departures of senior staff in the UK over the past year.
The company made what ITWeb calls an "attributable loss" of R107.33 million, compared with a R161.44 million loss in the previous 17 months. ®