Wednesday, Avnet Inc. (AVT) said it acquired a controlling interest in Vanda Group from Hutchinson Whampoa Ltd., with effect from October 5, 2009, thereby expanding its presence and customer base across China.
The company stated that the transaction will also provide Avnet Technology Solutions with a strong solutions practice in the banking and financial sector.
Andrew So, managing director of Vanda Group, said, "The new relationship with Avnet Technology Solutions will allow us to leverage our scale, scope and accelerate our growth." Founded in 1982, Vanda Group is an IT solutions and services provider covering major cities in China, Hong Kong and Macau.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.