Avnet, Inc. Completes Acquisition of the Assets of Nexicore Services

April 2, 2012 - Avnet, Inc. Completes Acquisition of the Assets of Nexicore Services

PHOENIX -- Avnet, Inc. (NYSE:AVT) announced today that it has completed its acquisition of substantially all of the operating assets of Hartford Computer Group, Inc. and its subsidiary Nexicore Services LLC ("Nexicore") through a Section 363 sale process in the U.S. Bankruptcy Court in Chicago. Nexicore, which generated revenue of approximately US$85 million in the 2011 calendar year, was one of the leading providers of repair and installation services in North America for consumer electronics and computers, operating in three complementary business lines, including depot repair, onsite repair and installation, and spare parts management. The acquisition is expected to be immediately accretive to earnings and supports Avnet's return on capital goals for acquisitions.

"This acquisition adds another significant building block in our strategy to offer a new aftermarket services business focused on repair, refurbishment, recycling and responsible disposition of electronic products and equipment," said Steve Church, President, Avnet Integrated Resources. "Nexicore brings a broad range of services, most notably a technical call center, onsite and depot repair of electronic devices and equipment and parts management, to complement our service offerings," Church added.

The assets acquired from Nexicore will be deployed in Avnet Integrated Resources, which provides reverse logistics and after-market services to the global technology industry.

About AvnetAvnet, Inc. (NYSE:AVT), a Fortune 500 Company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of more than 100,000 customers by providing cost-effective, value-added services and solutions. For the fiscal year ended July 2, 2011, Avnet generated revenue of $26.5 billion. For more information, visit www.avnet.com. (AVT_IR)

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