Slide 1: Sale of Technology Solutions to Tech Data Corp.
Sale of Technology Solutions to Tech Data Corp. Avnet Investor Presentation September 19, 2016 Exhibit 99.1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management’s current expectations and are subject to uncertainty
Slide 3: A Win Win for Both Companies
A Win Win for Both Companies Avnet to sell TS to Tech Data Corporation for $2.6B $2.4B in cash plus 2.8M shares of Tech Data common stock Tech Data expects deal to be accretive Expected to close in the first or second quarter of calendar 2017 Sale of TS and pending acquisition of Premier Farnell Rep
Slide 4: Focuses Avnet on Electronic Components Distribution
Focuses Avnet on Electronic Components Distribution Two of our greatest strengths: design chain and supply chain services 1,000+ field application engineers supporting 30,000 customers globally Tailored supply chains shipping 87 billion units annually Growth markets Digital transactions/web enableme
Slide 5: Update on Pending Premier Farnell Acquisition
Update on Pending Premier Farnell Acquisition July 28th - announced offer to acquire Premier Farnell £1.85 per share, approximately £691 million equity value (~$915M) Finance through a combination of offshore cash and new debt September 8th – U.S. antitrust clearance September 12th – General meeting
Slide 6: Pro Forma P&L Impact
Pro Forma P&L Impact At close, AVT expects a gain on the sale of TS of $3.75 – $4.75 per share ~ $2B in cash (after-tax) and 2.8M of Tech Data shares on balance sheet TS operating group as historically reported Transfer of embedded computing solutions business to EM from TS at the beginning of fisca
Slide 7: Potential Uses of Cash
Potential Uses of Cash (Dollars in millions) Avnet Acquire Premier Farnell Avnet plus Premier Farnell Sale of Technology Solutions Avnet plus PF minus TS Cash $1,000 $200 $800 $2,000 $2,800 Debt $2,500 $900 $3,400 $3,400 Net Debt $1,500 $1,100 $2,600 $2,000 $600 (1) Excluding share consideration
Slide 8: Question and Answer Session
Sale of Technology Solutions to Tech Data Corp. Question and Answer Session September 19, 2016
Slide 9: Supplemental and Non-GAAP Financial Information
Supplemental and Non-GAAP Financial Information In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company also discloses in this document certain non-GAAP financial information including adju