Avnet has signed an agreement to acquire Witekio, a privately held company with software and embedded systems that supports the development of IoT solutions.
Witekio’s technology includes connected hardware, device architectures and applications that complement the offerings of Softweb, a company previously acquired by Avnet which specializes in cloud-based software to connect, manage and analyze data.
“The combination of Witekio’s embedded software and design expertise with Avnet’s already robust technology ecosystem further strengthens our overall solutions strategy, which is unparalleled in the market today,” said Pete Bartolotta, President of Business Transformation, Avnet. “With Witekio’s expertise, we can more rapidly deliver a complete hardware, software, cloud and middleware solution that delivers insights based on the customer’s specific business case.”
Witekio has approximately 120 employees located in France, the United States, United Kingdom and Germany. The team is comprised of business transformation consultants, user experience (UX) designers, system architects and software experts who have worked with many Fortune 500 companies across vertical markets including medical and healthcare, automotive and navigation, handheld and mobility, industrial and energy, and smart connected objects.
“We’re aligned with Avnet in our approach to IoT solutions as well as our company cultures,” said Witekio founder Yannick Chammings. “We completely embrace Avnet’s strategy to build vertical and scalable platforms that can quicken time to market and reduce financial investment while still offering a high level of customization to all players that want to tackle IoT opportunities.”
The transaction is subject to prior regulatory approval and is expected to close before the end of 2019. Terms of the agreement were not disclosed.
The announcement furthers Avnet’s end-to-end IoT strategy by adding more capabilities and expertise in embedded software, edge computing and security, specifically from hardware to the cloud.