Seeking Alpha

Avnet buys IoT company Witekio

|About: Avnet, Inc. (AVT)|By:, SA News Editor

Avnet (NASDAQ:AVTwill acquire the company formerly known as Adeneo Embedded, an embedded system software and IoT company.

Witekio has approximately 120 employees across offices in France, the US, the UK, and Germany.

Terms weren't disclosed for the deal, which is expected to close before the end of the year.

Avnet shares are down 1.2% to $43.92.

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