Avnet to acquire Witekio to facilitate better IoT solutions

Avnet, a leading global solution provider, is now thinking about hiring Witekio to in order to expand its software and embedded systems expertise related to IoT market. Talking more about it, Avnet stated that by acquiring Witekio, (formerly called Adeneo Embedded), Avnet would be able to utilise Witekio's expertise to assist developers in the process of developing better IoT focused solutions. However, the company has not revealed the acquisition value or timeline for the acquisition. But it is expected that by the end of 2019, Avnet will complete the process.

Speaking about Witekio, it is a leading software development company located in France which mainly deals with IoT technology. The company develops software for IoT devices, coding at a low level, middleware, mobile, web applications, and cloud services. As per the report, the company has 120 centres across the world who are handling more than 300 customers every year. The company has witnessed around 90 percent growth within the last five years. The customers of the company are Masabi, a SaaS ticketing system developer, Lancome Paris, perfume and cosmetic manufacturing company, and Evoca Group, who manufactures brewing coffee and tea machines.

Avnet has been offering effective IoT strategy for years and stated that the upcoming acquisition would complement its recent acquisition of Softweb Solutions. In December 2018, the company acquired Softweb, a tech consulting firm which is famous for offering IoT and AI solutions.

After the acquisition, Witekio's technologies will complement the software of Softweb and will facilitate better services in management, connecting and analysing of data. By combining these two companies' expertise in IoT, Avnet will strengthen its IoT solutions strategy. This is informed by President of business transformation at Avnet, Pete Bartolotta. He further added that by employing Witekio's expertise, Avnet would be able to provide better hardware, software, and cloud solutions.