(Bloomberg) -- Tech Data Corp., one of the world’s biggest distributor of technology products and services, is buying Avnet Inc.’s tech solutions group for $2.6 billion to expand in Asia and pursue next-generation products.

Tech Data will pay $2.4 billion in cash plus shares valued at about $200 million, Phoenix-based Avnet said in a statement Monday. The transaction, expected to close in the first half of 2017, will add significantly to earnings in the first year after closing, Clearwater, Florida-based Tech Data said in a separate statement.

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