[Techtaffy Newsdesk]

Avnet has acquired Genilogix, an IT application lifecycle management firm. The size of the transaction was not revealed.

As an HP Software Enhanced Elite Partner, Genilogix helps enterprises with application lifecycle management. Genilogix also offers a SaaS based project and portfolio management system for the Cloud. The company generated revenue of approximately $23 million in the 2011 calendar year.