PCCW (SEHK: 0008) - HONG KONG, November 9, 2012 - PCCW Solutions, the IT services flagship of PCCW Limited, has reached an agreement with Avnet, Inc. (NYSE: AVT) to acquire the banking application business in China of the Vanda Group ("Vanda China"). PCCW Solutions press release: http://www.pccw.com/About+PCCW/Media+Center/Press+Releases/Detail?guid=cbf3117f9b2ea310VgnVCM1000006a8ba8c0____&language=en_US Avnet press release: http://ir.avnet.com/releasedetail.cfm?releaseid=720019