Global IoT & AI solutions provider Softweb Group acquisition by Avnet

Edwards 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 US$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).

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