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Phoenix-Based Avnet Sells Technology Division

One of the Valley’s largest businesses finalized a deal this week to sell-off almost half its business. The multimillion-dollar deal is just beginning to roll out.

So far it is business as usual, according to Robert Dutkowsky, CEO of Tech Data, the company that bought Avnet’s technology division on Monday.

Phoenix-based Avnet distributes electronics, and received almost $2.5 billion in cash and 7 percent of common stock for selling the department to the Florida company.

Dutkowsky said a new management team has been named and includes three people from each company. The companies will continue to operate separately for the time being, so that customers are not disrupted.

The post-acquisition company will have 14,000 employees.

Heather van Blokland was a host at KJZZ from 2016 to 2021.