Blog Coverage Avnet Acquires an Interest in Hackster.io

Upcoming AWS Coverage on Arrow Electronics Post-Earnings Results

LONDON, UK / ACCESSWIRE / November 15, 2016 / Active Wall St. blog coverage looks at the headline from Avnet, Inc. (NYSE: AVT) as the company announced on November 14, 2016, that it has acquired a majority stake in Hackster Inc., and would acquire the remainder of the firm in January 2017. Hackster.io, headquartered in San Francisco, is an online community that assists people to learn how to design, create, or program Internet-connected hardware. With over a 200,000 user base at its disposal, Hackster.io holds almost 90 technology partner engagements. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of Avnet’s competitors within the Electronics Wholesale space, Arrow Electronics, Inc. (NYSE: ARW), reported third quarter 2016 results on November 03, 2016. AWS will be initiating a research report on Arrow Electronics in the coming days.

Today, AWS is promoting its blog coverage on AVT; touching on ARW. Get all of our free blog coverage and more by clicking on the link below:

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Breaking down the merger

Avnet, in the recent years, has realized the true potential of hardware-based learning processes. Even Hackster.io has primarily aimed to create a network, to learn, share, and launch innovation and evolution through IoT and related hardware. This collaboration with Avnet also grants it the potential to reach to a far larger client-base with advanced learning tools and a much bigger launch pad to design.

Avnet is a global IT solutions distributor which serves customers and suppliers across 80 nations. However, the company does not just provide solutions rather it offers training, marketing, resources and services expanding from cloud to conventional data center. Hence, this firm which deals primarily in IoT and other critical digital platforms, buys a stake in a hardware-based technology firm, it makes room for debate.

The hardware-based development drive

On October 17, 2016, Avnet closed the acquisition deal with Premier Farnell PLC in a complete cash merger for £1.85 per share, which equates to an equity value of approximately £691 million. Seemingly, this acquisition turned out to be a hardware-driven initiative. Premier Farnell, being a global distributor of electronic components which utilizes a digital platform to users to employ the latest products, services, and development software, was a profitable venture for Avnet. The marketing arsenal of the firm was equally well-equipped granting a lot of hype and a huge client base to Avnet.

Almost a month earlier to the Premier Farnell’s acquisition, on September 19, 2016, Avnet sold its Technology solutions operating unit to Tech Data Corporation (NASDAQ: TECD). The transaction, valued at $2.6 billion, was an initiative to focus on the core objectives of the respective firms, and these funds would later help strengthen its hardware-based development initiative.

Adam Benzion, co-founder and CEO at Hackster.io, stated that:

“Creating a network for learning, sharing and launching new inventions has been at the core of our vision and values. With Avnet, we can accelerate our vision by reaching out to more people in more places, with better learning tools and a launch pad for creation.”

Stock Performance

At the closing bell, on Monday, November 14, 2016, Avnet’s stock climbed 1.26%, ending the trading session at $44.31. A total volume of 853.90 thousand shares were traded at the end of the day. In the last month and previous three months, shares of the company have advanced 7.29% and 7.54%, respectively. Moreover, the stock gained 4.71% since the start of the year. The company’s shares are trading at a PE ratio of 13.14 and have a dividend yield of 1.53%.

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