With more than half of its orders received electronically, electronics distributor Tech Data Corp. is striving to build more sales through internet commerce amid recently slack overall sales demand, executives said during a recent conference call about its fiscal second quarter.

Now the company is forging further ahead in e-commerce with its plan to pay $2.6 billion in cash and stock to acquire the Technology Solutions division of electronics distributor Avnet Inc. The Technology Solutions division sells to customers through e-commerce, sales reps and other channels.

Tech Data reported last month that its total sales dipped 3.5% year-over-year, a decline it partly attributed to the United Kingdom’s vote to exit from the European Union reducing demand. But the company, with a base of more than 100,000 customers worldwide, said it planned to expand its portfolio of cloud-based e-commerce and Internet of Things technology and services offered to customers as a way to grow revenue and profits during uncertain economic and political times.

It also said it would increase its e-commerce presence with its recently announced StreamOne platform, which allows business customers to customize their own online store using Tech Data’s internet-based technology, or to integrate Tech Data’s cloud services into their existing e-commerce business.

The acquisition of Avnet’s Technology Solutions division will bring Tech Date additional technology and expertise in web analytics, cloud-based computing and data storage, and network security. “The combination of Tech Data and Technology Solutions will create a premier I.T. distributor with unmatched skills, consultative expertise, and strong partner relationships to help its customers capture these next-generation opportunities,” Tech Data said today in announcing the acquisition.

Like Tech Data, Avnet also sells many of its products through its e-commerce site, but it doesn’t break out online sales figures. Avnet reported total Technology Solutions sales of $2.288 billion for the fiscal year ended July 2, 2016, down 7.8% from $2.481 billion a year earlier. Total sales were $6.227 billion, down 8.4% from $6.796 billion.

Under terms of the acquisition, Avnet will receive $2.4 billion in cash and approximately 2.785 million shares of Tech Data common stock, bringing the expected total acquisition price to about $2.6 billion.

Last month, Avnet became one of two companies offering to buy electronics distributor Premier Farnell, No. 110 in the B2B E-Commerce 300, which ranks companies on their annual web sales. 

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