Global IoT & AI solutions provider Softweb Group acquisition by Avnet
· 1 min read
EM³ advised Softweb Group on its successful acquisition by Avnet. The acquisition was a major cross-border tech M&A deal in the AI and IoT space.
Maxson Mago & Macaulay, LLP has advised global IoT and AI solutions provider Softweb Solutions, Inc. and Priya Softweb Solutions Pvt. Ltd. on its sale to Avnet, Inc. (NYSE: AVT), a global technology solutions provider.
Softweb Solutions, Inc. and Priya Softweb Solutions Pvt. Ltd. is comprised of more than 500 employees located in Dallas, Chicago and Ahmedabad, India and delivers best-of-breed AI software for IoT applications, along with providing data services and digital transformation to enterprises, including clients such as GE, T-Mobile, Siemens and Pepsi.
Avnet is a global technology solutions provider with an extensive ecosystem delivering design, product, marketing and supply chain expertise for customers at every stage of the product lifecycle. Avnet’s global headquarters is in Phoenix, Arizona, the company was founded in 1921, and reported revenues of $22.87 billion for the financial year 2017.
The EM³ M&A core team was led by Managing Partner Ajay K Mago, and comprised of partner Susan Macaulay and counsel Susan Stoddard. The EM³ team led a deal team comprised of teams at Merrill Lynch, Pierce, Fenner and Smith Incorporated (led by Raj Kalyandurg, Senior Vice President), Pagemill Partners, a Duff & Phelps Business (led by Kevin Iudicello, Managing Director, Technology Investment Banking), and Vector Legal (led by Anshuman Mohapatra, Partner).
Published December 17, 2018. The law may have changed since. This publication is intended for general education and informational purposes only, and should not be regarded as either legal advice or a legal opinion. You should not act upon or use this publication or any of its contents for any specific situation. Recipients are cautioned to obtain legal advice from their legal counsel with respect to any decision or course of action contemplated in a specific situation. Maxson Mago & Macaulay, LLP and its attorneys provide legal advice only after establishing an attorney-client relationship through a written attorney-client engagement agreement. This publication does not establish an attorney-client relationship with any recipient.
