New York-listed Avnet Inc on Dec. 1 announced it has completed a strategic investment in Vietnam by acquiring “certain assets” of Hong Quang (Sunshine) Joint Stock Company for further expanding its presence and customer base in the Southeast Asian region.

Phil Gallagher, global president of Avnet’s affiliate, Avnet Technology Solutions, did not disclose the value of the deal, merely confirming that the whole company, except its properties, has been bought.

“Expanding into a growing market like Vietnam will provide new opportunities to accelerate growth and expand our footprint in ASEAN markets,” he said, adding that his company would offer a broad suite of solutions encompassing networking, security, and unified communications.

Hong Quang’s operations will be integrated into Avnet’s Technology Solutions Asia business and the new entity will be called Hong Quang Avnet Joint Stock Company.

From its head office in HCM City and sales offices in Hanoi and Da Nang , Hong Quang marketed a porfolio of IT infrastructure products from companies like Hewlett Packard, IBM, and Lenovo, generating a turnover of around 33 million USD last year.

Avnet distributes electronic components, computer products, and embedded technologies in over 70 markets. It achieved a turnover of more than 16 billion USD in the fiscal year ended June 27, 2009. Avnet Technology Solutions is its global technology sales and marketing organisation./.