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Avnet to divest Vandasoft Technology Holdings Limited to PCCW Solutions

Avnet announced that it has reached an agreement to sell Vandasoft Technology Holdings Limited, Avnet Vanda Group's banking application business in China to PCCW Solutions. Avnet will continue to own and operate the Vanda Hong Kong and Macau system integration business, providing systems integration services and solutions incorporating hardware and software from major suppliers. Once the transaction is complete, Vanda China will continue to deliver a portfolio of banking software to clients as part of PCCW Solutions.