"On completion of the acquisition, Ontrack will become part of the operations of Avnet Technology Solutions Asia Pacific. We will retain all the employees of Ontrack, while the acquired company will work as a solutions distribution arm of Avnet," said Avnet vice president and general manager (Asia Pacific) Jaideep Malhotra.
Ontrack is a market leader in security, networking, consolidation, virtualisation, storage and server solutions.
The company, with presence in functions nine locations throughout India, supports customers in a variety of end markets including banking, industrial and manufacturing.
The transaction, which is subject to government approval, is expected to close by mid-July 2008.