Avnet’s deal to buy Premier Farnell has come into sharper focus now the global distributor has announced it will sell its Technology Solutions operating group to Tech Data in a stock and cash transaction valued at approximately $2.6bn. Under the terms of the agreement, Avnet will receive $2.4bn in cash and 2.8 million shares of Tech Data common stock, currently valued at approximately $200 million. Avnet is now free to focus on its electronic components distribution business which will have a new arm once the Premier Farnell acquisition has been completed. “We believe the acquisition of Technology Solutions by Tech Data is the best decision for our employees, customers, suppliers and shareholders. This transaction presents us with the best strategic path for Avnet’s future success and profitability, and puts Technology Solutions in position to achieve breakthrough business results with Tech Data,” said William Amelio, chief executive officer of Avnet. “Moving…
Avnet has announced its results for the fourth quarter and fiscal year 2016 ended July 2, 2016. In Q4 sales were $6.2bn down 8% year over year and consistent…
So how do you solve the problems of websites that don’t engage with enough design engineers, an essential element in your demand creation strategy? Eventually, and possibly with…
Avnet has opened a battle royal for Premier Farnell by making a £691 bid for the UK-based distributor. It remains to be seen whether Datwyler which made an…