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The Associated Press December 15, 2011, 2:59PM ET

Avnet agrees to acquire Round2

Electronic components maker Avnet Inc. said Thursday that it had agreed to acquire Round2 Inc., a provider of recycling services for electronics.

The transaction is expected to close on Jan. 3.

Terms of the deal were not disclosed.

Avnet expects the acquisition to boost its earnings immediately. In calendar 2010, Round2 generated about $40 million in revenue.

Combined with other acquisitions, the Round2 deal will allow Avnet to offer call center services, repair and refurbishment, and environmentally responsible disposal of electronics that are no longer usable, the company said.

Avnet shares rose 34 cents to $28.66 by early Thursday afternoon.

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