Avnet Announces Agreement to Acquire ROUND2 Technologies, Expanding Its Reverse Logistics Capabilities
Avnet, Inc. (NYSE: AVT) announced today that it has entered into a definitive agreement to acquire ROUND2 INC. and its parent Round2 Technologies, Inc..
The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of ROUND2's shareholders as well as customary closing conditions. The transaction is expected to close on January 3, 2012.
The investment is expected to be immediately accretive to earnings and supports Avnet's return on capital goal of 12.5%.
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