Mergers and Acquistions News
Categories: Telecoms, Hardware
April 1st 2010, 15:55PM
Semiconductor and embedded systems giant Avnet has announced a definitive agreement under which it will acquire Bell Microproducts, in an all-cash merger valued at $594 million (£390 million).
The transaction, which is expected to close in 60 to 120 days, will help Avnet to increase the scale and scope of its storage and computing solutions, as well as contributing to its presence in the growing Latin American market.
Roy Vallee, chairman and chief executive officer of Avnet, said that Bell's position as a leader in hard disk drive distribution should substantially increase the company's exposure to this market.
"The combination of Bell's strong customer/supplier relationships and talented employees, coupled with our value based management culture and discipline, should allow us to achieve our stated return on capital goals on this transaction," he added.
Last month, Avnet moved to acquire certain assets of value-added distributor Servodata in the Czech Republic.
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