US-based Avnet Inc has announced that it has acquired Mumbai-based systems integrator Ontrack Solutions for an undisclosed sum.

Ontrack is known in the market as a leader in security, networking, consolidation, virtualization, storage and server solutions. The company with presence in functions nine locations throughout India, supports customers in a variety of end markets including banking, industrial and manufacturing.

The company has an employee headcount of around 160 personnel and recorded revenues of $13 million for the fiscal year ended March 31, 2008.

Avnet, Inc is one of the largest distributors of electronic components, computer products and technology services and solutions with more than 300 locations serving more than 70 countries worldwide.

The company markets, distributes and optimizes the supply-chain and provides design-chain services for the products of the world's leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers.

Following the acquisition, Ontrack will become part of the operations of Avnet Technology Solutions Asia Pacific.
The transaction, which is subject to government approval, is expected to close by mid-July 2008.