Avnet Acquires French embedded specialist DE2
Combined business set to broaden Avnet Embedded’s portfolio for the French Market
Poing Germany, November 8, 2011 – Avnet, Inc. (NYSE:AVT), a leading global technology distributor, announced today that it has agreed to purchase the French company DE2 SAS, to strengthen its Avnet Embedded business unit in EMEA. The intention is to combine DE2 with the Avnet Embedded business in France to leverage the expertise and resources of both companies to the benefit of our customers and business partners. The acquisition will be accretive to earnings in the first full year of operations and supports Avnet's return on capital goals,
DE2, founded in 2005, has built an excellent reputation as an engineering-rich value added distribution business in the Embedded market. Martin Brooks, Vice President Avnet Embedded EMEA, said: “ DE2’s value proposition complements our business model perfectly and adds new business partners, new customers and of course adds some very talented people to our organisation.”
The announced strategic investment further underlines Avnet’s commitment to the Embedded market in France, as its enables Avnet Embedded to provide its customers a wider range of products, enhanced technical support and services.
Their major franchises include Microsoft Embedded, Oracle, Interval Zero, Metalogix and Datalight. DE2, like Avnet Embedded, are very focussed on delivering value along with hardware, software, services and solutions to their customers.
Patrick Zammit, President of Avnet Electronics Marketing EMEA, the operating group home of Avnet Embedded, added: “We have identified the European Embedded market place as one of our strategic growth areas. With the creation of Avnet Embedded four years ago and the acquisition of Abacus almost 3 years ago we have been able to create a pan-European footprint that we are ready to develop further. The acquisition of DE2 accelerates our Embedded growth strategy, and adds a number of important new lines and customers to our existing business in France .”
About Avnet Embedded
Avnet Embedded is a product business group within Avnet Electronics Marketing EMEA, an operating region of Avnet, Inc., (NYSE: AVT). Avnet Embedded was created to serve the industrial market with displays, embedded computing hardware, software, networking and wireless products. The group also provides customers with finished or customised products and training, system integration and ODM services through its European technical centres and partners. Avnet Embedded works with a range of leading product manufacturers and technical partners to provide the best product solution to meet its customers’ specific requirements. Further information is available at www.avnet-embedded.eu.
Avnet, Inc. (NYSE:AVT), a Fortune 500 Company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of more than 100,000 customers by providing cost-effective, value-added services and solutions. For the fiscal year ended July 2, 2011, Avnet generated revenue of $26.5 billion. For more information, visit www.avnet.com. (AVT_IR)
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