Distributor Avnet Technology Solutions has pulled out of the Middle East and Africa (MEA) market.
The decision was made following review of Avnet’s business in the region, a statement from the distributor said. Avnet said it had determined that it was “unlikely to make the necessary returns needed to meet our strategic goals in the short- or mid-term” in the region, and was hence shutting down its technology solutions operations here.
Avnet stressed, however, that its computer components and integrated solutions business will continue to support its key partners in the region.
The distributor added that its exit would have no impact on the independently operating Avnet Electronics Marketing businesses in the region.
“This has been a difficult decision where we have been decisive in taking action to realign resources from underperforming businesses to areas that can deliver strong performance for Avnet, its suppliers and business partners,” the statement said.
“Our immediate priorities are to ensure that we provide the necessary support to our employees throughout this process and to fully assist our supplier and business partners as we manage our exit from this market.”