Avnet Signs Agreement with PCCW Solutions to Divest Vandasoft Technology Holdings Limited

  Avnet Signs Agreement with PCCW Solutions to Divest Vandasoft Technology
  Holdings Limited

Business Wire

PHOENIX -- November 09, 2012

Avnet, Inc. (NYSE: AVT), a leading global technology distributor, announced
today that it has reached an agreement to sell Vandasoft Technology Holdings
Limited, Avnet Vanda Group’s banking application business in China (Vanda
China) to PCCW Solutions. Avnet will continue to own and operate the Vanda
Hong Kong and Macau system integration business, providing systems integration
services and solutions incorporating hardware and software from major
suppliers. Once the transaction is complete, Vanda China will continue to
deliver a rich portfolio of banking software to clients as part of PCCW
Solutions. Vanda China has offices in 6 major cities and a service team
covering over 20 provinces across China.

"This transaction divests a non-core asset for Avnet and will allow the Vanda
China team to join PCCW Solutions, the IT services flagship of the PCCW Group,
where they can fully leverage their capabilities," stated William Chu,
President of Avnet Technology Solutions Asia Pacific.

This transaction is expected to be completed by the end of November 2012.

About Avnet

Avnet, Inc. (NYSE:AVT), a Fortune 500 company, is one of the largest
distributors of electronic components, computer products and embedded
technology serving customers globally. Avnet accelerates its partners' success
by connecting the world's leading technology suppliers with a broad base of
customers by providing cost-effective, value-added services and solutions. For
the fiscal year ended June 30, 2012, Avnet generated revenue of $25.7 billion.
For more information, visit www.avnet.com. (AVT_IR)

Visit Avnet's Investor Relations Website at www.ir.avnet.com or contact us at
investorrelations@avnet.com.

Contact:

Avnet, Inc.
Investor Relations Contact:
Vincent Keenan
Vice President, Investor Relations
480-643-7053
vincent.keenan@avnet.com
or
Public Relations Contact:
Michelle Gorel
Vice President, Public Relations
480-643-7653
michelle.gorel@avnet.com