Avnet has acquired Dragon Innovation, which comes to the table with a cloud-based platform and human expertise to help manage the full manufacturing process from strategy and planning for earlier stage products to factory selection and production oversight. The acquired company has worked across a wide range of industries including emerging IoT vertical segments such as home automation, wearables, robotics and automotive.
“With the addition of Dragon Innovation to our connected ecosystem, Avnet further meets the needs for companies of all sizes head on – helping them launch new hardware products in an efficient and cost-effective manner that accelerates time to market,” said Avnet CEO Bill Amelio. “Dragon Innovation’s hardware manufacturing expertise augments Avnet’s design and supply chain capabilities beyond electronic components to encompass the entire finished product. Equally important, Dragon Innovation complements our digital strategy by delivering their services through a combination of software and access to subject matter experts matched to the customers’ needs as they move swiftly through the stages of product development.”
“We use a combination of technology and human expertise built into accessible, straightforward online tools,” said Scott N. Miller, chief executive officer of Dragon Innovation. “We are thrilled to be joining Avnet, an established market leader who shares our values and has significant resources and reach to enable us to help companies build hardware better than ever before.”
Terms of the transaction were not disclosed.
Distributors are making major strides in finding new ways to add value above and beyond their more traditional core competencies. The acquisition of Dragon Innovation further enhances Avnet’s role in developing new technology products by simplifying the manufacturing process, particularly for those projects that advance IoT.