Avnet to Acquire Softweb Solutions; Adds Software and Artificial Intelligence to Ecosystem and Bolsters IoT Capabilities
Summary
PHOENIX--( BUSINESS WIRE )--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.The forward-looking statements herein include statements addressing future financial and operating results of Avnet and may include words such as “will,” “anticipate,” “intend,” “estimate,” “forecast,” “expect,” “feel,” “believe,” “should,” and other words and terms of similar meaning in connection with any discussions of future operating or financial performance, business prospects or market conditions.The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: Avnet’s ability to retain and grow market share and to generate additional cash flow, risks associated with any acquisition activities and the successful integration of acquired companies, implementing and maintaining ERP systems, supplier losses and changes to supplier programs, an industry down-cycle in semiconductors, declines in sales, changes in business conditions and the economy in general, changes in market demand and pricing pressures, any material changes in the allocation of product or price discounts by suppliers, and other competitive and/or regulatory factors affecting the businesses of Avnet generally.Except as required by law, Avnet is under no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.We transform ideas into intelligent solutions, reducing the time, cost and complexities of bringing products to market.