Avnet Buys Ascendant Technology, $90 Million Software VAR
Company specializes in IBM solutions, strategic software applications.
Avnet Inc. said that it will purchase Ascendant Technology LLC, a $90 million IT solutions provider specializing in IBM Corp. technology that sells to customers in North America, Europe, Brazil and India.
Ascendant is known for its expertise in defining and designing strategic software applications for e-commerce, enterprise portal and collaboration, web content management, infrastructure automation and cloud computing. The company holds IBM’s Premier business partner status.
Neither party disclosed terms of the deal, which is expected to close in the next month and a half. Officials said that Ascendant will be folded into Avnet Technology Solutions (ATS), Avnet’s IT distribution arm.
An ATS official said that Ascendant’s proficiency in software application integration and services support fits with the distributor’s vertical market strategy, maps to its SolutionsPath practices and will help channel partners deliver more business value to their customers.
Ascendant’s products and services are wrapped around a framework it developed called Insight Driven Engineering Approach (IDEA) which Avnet said will help its channel partners deliver higher value IT solutions.
“Ascendant Technology’s expertise in services delivery, complemented by their software offerings, aligns with Avnet’s strategy to provide our business partners with the support they need to succeed in high growth vertical markets,” said Jeff Bawol, ATS Americas president.
Liz Albert, Ascendant market director, wrote in a blog post that the acquisition will expand the geographic and market reach of the company’s products and services.
“Being acquired by Avnet will allow our services and offerings to become more broadly available to an increased number of customers in existing regions, in countries around the globe, and in markets and regions where we do not have a presence today,” she said.