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Avnet Acquires Genilogix
Avnet (www.avnet.com) announced that it acquired Genilogix, an IT application lifecycle management firm. Genilogix provides a range of products and services that help channel partners and customers improve security, quality, performance, availability, governance, and regulatory compliance for mission-critical applications. As an HP Software Enhanced Elite Partner, Genilogix helps enterprises with all aspects of application lifecycle management from design to implementation to long-term support of the HP IT Performance Suite. Genilogix also offers a SaaS based project and portfolio management system for the Cloud. The company generated revenue of approximately US$23 million in the 2011 calendar year.
Founded in 2001, Genilogix provides a range of products and services to help customers recognize value within their organization for the HP IT Performance Suite. Genilogix works closely with HP to offer products and services that mitigate risk. This acquisition will be integrated into the operations of the services group of Avnet Technology Solutions in the Americas.
“Strategic expansion of our software and services portfolio strengthens our ability to bring IT solutions to market quickly and cost effectively, while ensuring value is added at each point in the supply chain,” said Tony Vottima, senior vice president, Avnet Technology Solutions, Americas’ services organization. “The expertise and relationships that the Genilogix team brings to our organization are directly aligned with our solutions distribution focus.”
This transaction is expected to be immediately accretive to earnings and support Avnet's long-term return on capital goal of 12.5%.
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