Value-added distributor Avnet Inc. (NASDAQ: AVT) will acquire IT consulting firm Ascendant Technology, an Austin, Tex.-based IBM partner, in a move that it hopes will add to its vertical solutions portfolio and software development capabilities.
Avnet plans to integrate Ascendant’s implementation services and software expertise into Avnet Technology Solutions, its distribution arm.
Ascendant specializes in developing IBM solutions, designing software applications and implementing e-commerce, collaboration, content management and cloud tools. It also offers managed services and hosting for IBM software.
Ascendant’s expertise in financial, healthcare and retail markets also aligns with Avnet’s SolutionsPath practices, which aim to help VARs tackle specific verticals, according to the distributor.
Ascendant was founded in 2003 and operates in North America, Brazil, India and Europe, including one location in Calgary. It has roughly 500 employees worldwide, with less than 10 in Canada.
Financial terms of the deal were not disclosed and Avnet expects the acquisition to close within the next 45 days.