Avnet Acquires Canvas Systems From PE Firm

Law360, New York (January 31, 2012, 7:59 PM EST) -- Avnet Inc. is acquiring leading independent information technology hardware and software services provider Canvas Systems, which has operations in the U.S., the U.K. and the Netherlands and had a 2011 revenue of $122 million, from Platinum Equity, Avnet announced Tuesday.

The target company, which will be integrated into Avnet Technology Solutions, provides services across the IT spectrum, including remarketing, refurbishment and environmentally compliant asset disposal services, Avnet said. Terms of the deal were not disclosed.

“The acquisition of Canvas Systems enhances our IT life cycle management...
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