Avnet expands with acquisitions in Asia.
Both Avnet and Premier Farnell announced acquisitions in Asia in July, adding to each company’s global product and service offering.
Avnet, Inc. announced its offer to purchase all outstanding shares of Internix, Inc., a publicly traded company on the Tokyo Stock Exchange. The deal expands Avnet’s electronic components distribution business in Japan, adding complementary suppliers and an experienced engineering team.
“This acquisition is another step in our multiyear strategy to expand our business in the sizeable yet fragmented Japan distribution market,” Harley Feldberg, president of Avnet Electronics Marketing, Global said in a statement announcing the deal.
With operations in Japan, Singapore, Hong Kong, the People’s Republic of China and Thailand, Internix distributes active and passive components from companies such as AKM, Cirrus Logic, Honeywell, Maxim, Microchip, Microsemi, RICOH and SMSC. With approximately 280 employees, most with engineering backgrounds, Internix provides sales, design, support and services to a wide range of OEM customers in Japan and their operations throughout the region. The company has sales of approximately $260 million.
Avnet’s tender offer was unanimously approved by Internix’ board of directors and is expected to be completed by the end of August.
In other news, British distribution giant Premier Farnell completed its purchase of Shenzhen Embest Technology Co. Ltd., a provider of embedded system development boards and tools as well as design engineering services. Based in China, Embest will support Premier Farnell customers around the world. For complete article click here.
Now in August Avnet is looking to acquire Premier Farnell.
Avnet Inc. has reached agreement to purchase Premier Farnell plc. Headquartered in Leeds, UK, Premier Farnell is a global distributor of electronic components and related products. The company delivers engineering solutions to the electronic system design community utilizing multi-channel sales and marketing resources.
Already one of the world’s largest global distributors of electronic components, computer and IT solutions, embedded technology, and services, Avnet says the acquisition will significantly strengthen its digital footprint worldwide, bolster its strategy of providing a differentiated digital experience (from product ideation through to its lifecycle), and give Premier Farnell’s customers access to an extensive supply-chain suite.
Bank of America Merrill Lynch acted as financial advisor and Gibson Dunn & Crutcher LLP acted as legal counsel to Avnet on this transaction.