Avnet to acquire Softweb Solutions
Adds software and artificial intelligence to ecosystem and bolsters IoT capabilities
Avnet Inc. announced will acquire Softweb Solutions Inc., a privately held software and artificial intelligence (AI) company that delivers innovative software solutions for Internet of Things (IoT) applications and systems designed to increase efficiency, speed time to market, and help businesses transform.
Building on Avnet and Softweb’s track record for bringing IoT solutions to market, the deal formalizes a game-changing element of Avnet’s overall solutions strategy. The integration of Softweb’s best-of-breed AI software for IoT applications, along with its data services and digital process capabilities, provides Avnet with a rapid design, development, and deployment capability that further enhances Avnet’s unique end-to-end ecosystem and provides for new and recurring, margin-enhancing revenue opportunities.
“By capitalizing on our longstanding partnership with Softweb, we are adding new capabilities to Avnet’s already robust ecosystem — combining the power of their software expertise with the strength of our end-to-end hardware ‘design to deploy’ ecosystem,” says Avnet CEO Bill Amelio. “Softweb’s formidable IoT and data platforms, plus their expertise in AI, data advisory and digital development services, will enable us to bring even greater value to our customers as a single partner resource while accelerating Avnet’s growth.”
Softweb Solutions has approximately 500 employees who are located in Dallas, Chicago and Ahmedabad, India. The Softweb team has delivered more than 1,400 projects to 600 clients since its founding in 2004.
“We are pleased that Avnet sees the immense value of our AI and software technology services and solutions, and we look forward to leveraging Avnet’s vast infrastructure, resources and expertise as a global technology solutions leader that enhances customers’ competitiveness and solves today’s business challenges,” says Ripal Vyas, CEO and owner of Softweb Solutions.