Avnet, Inc. Announces Agreement to Acquire RTI Holdings

  Avnet, Inc. Announces Agreement to Acquire RTI Holdings

Further expands wireless, optical, communications, industrial and digital home
  application product lines and strengthens presence in China and Hong Kong

Business Wire

PHOENIX -- March 20, 2013

Avnet, Inc. (NYSE:AVT) announced today that it has agreed to acquire the
shares of RTI Holdings Ltd., a value-added distributor of wireless, optical,
telecom, data communications, and industrial components in Hong Kong and the
People’s Republic of China (PRC). In addition, Avnet will also acquire the
shares of three related entities, RTI Technology China Limited, Eastele
Technology China Limited, and DSP Solutions Limited. This transaction has
received all necessary regulatory approvals and is expected to close in the
next 30 days.

“This acquisition is important to Avnet Electronics Marketing as the
combination of RTI’s focused technical expertise and Avnet’s scale and scope
further strengthen our competitive edge as we continue to grow in Asia,” said
Harley Feldberg, president Avnet Electronics Marketing. “This transaction also
complements our existing offerings of product lines and allows us to expand
our value proposition to our customers. With the addition of talented
employees from RTI, I am sure we will be able to tap deeper into additional
markets yet to be explored.”

Founded in 1989 and headquartered in Hong Kong, RTI has a strong presence in
China serving over 700 customers across a range of end markets including
telecom and datacom, industrial and digital home applications. The company has
over 120 sales/FAE/CS employees that provide application engineering services,
technical support and sales promotion activities to high-tech manufacturing
firms across the region. The company generated revenue of approximately US $80
million in the 2012 calendar year. This acquisition, which will be integrated
into Avnet Electronics Marketing, Asia is expected to be immediately accretive
to earnings and supports Avnet's return on capital goal of 12.5%.

“China remains a high priority and key strategic focus for Avnet Electronics
Marketing. The acquisition of RTI not only expands our market coverage in
industrial, telecom, optical and datacom but it also strengthens our demand
creation resources,” said Stephen Wong, president Avnet Electronics Marketing,
Asia. “RTI is a reputable player in the region delivering a breadth of
engineering services from basic circuit design to total product solutions. The
addition of RTI will further complement our strategic vision of providing
best-in-class products and services to our customers in a critical growth
region for Avnet.”

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These statements are
based on management's current expectations and are subject to uncertainty and
changes in facts and circumstances. The forward-looking statements herein
include statements addressing future financial and operating results of Avnet
and may include words such as "will," "anticipate," "expect," believe,"
"intend," and "should," and other words and terms of similar meaning in
connection with any discussions of future operating or financial performance
or business prospects. Actual results may vary materially from the
expectations contained in the forward-looking statements.

The following factors, among others, could cause actual results to differ
materially from those described in the forward-looking statements: the
Company's ability to retain and grow market share and to generate additional
cash flow, risks associated with any acquisition or disposition activities,
the successful integration of acquired companies, any significant and
unanticipated sales decline, 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 product rebates by suppliers, allocations of
products by suppliers, other competitive and/or regulatory factors affecting
the businesses of Avnet generally.

More detailed information about these and other factors is set forth in
Avnet's filings with the Securities and Exchange Commission, including the
Company's reports on Form 10-K, Form 10-Q and Form 8-K. 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.

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:

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