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Avnet, Inc. Announces Agreement to Acquire Assets of Seamless Technologies, Inc.



  Avnet, Inc. Announces Agreement to Acquire Assets of Seamless Technologies,
  Inc.

            Significantly Expands Cloud and Automation Solutions  

Business Wire

PHOENIX -- June 10, 2013

Avnet, Inc. (NYSE:AVT) announced today that it has agreed to acquire
substantially all of the assets of Seamless Technologies, an IT private cloud
and data center automation service provider. Seamless Technologies provides
expertise and services in IT infrastructure software technologies, automation,
cloud, virtualization, integration, and Information Technology Infrastructure
Library (ITIL) best practices. Seamless Technologies has developed a robust
cloud practice, working with customers of all sizes on their transition to
private, public and hybrid cloud environments. The company generated revenue
of approximately US$14 million in the 2012 calendar year.

“Recent services acquisitions have been well-received by our partners.
This latest acquisition adds a critical component to our expanding services
portfolio, with private cloud, virtualization and data center automation
services that broaden and deepen our suite of solutions for our customers,”
said Tony Vottima, senior vice president and general manager, Avnet Services,
Americas. “Our capabilities span presales through implementation, training and
managed services, which create new opportunities for our suppliers and
reseller partners.”

Founded in 1992, Seamless Technologies has created a unique set of
intellectual property and software that enables faster integration and
deployment of large-scale private cloud and IT infrastructure environments.
This acquisition will be integrated into the operations of Avnet Services.

“The addition of these new service offerings supports our long-range vision of
solutions distribution, delivering technologies, services and solutions that
provide high business value and accelerate hardware, software and services
sales. Seamless Technologies’ domain expertise in financial services,
healthcare, and insurance will complement our SolutionsPath^® strategy and
enable our partners and customers to achieve their business goals,” Vottima
added.

This transaction, which is expected to close in approximately 30 days, is
immediately accretive to earnings and supports Avnet's long-term return on
capital goal of 12.5 percent.

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:

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