Avnet Acquires Italian Electronics Distributor

Phoenix, Arizona-based Avent Memec said today that it has acquired ESCO Italiana, an Italian semiconductor and embedded systems distributor. Financial terms were not disclosed. ESCO has yearly sales of approximately $38M and 60 employees, and also distributes products in Greece and Turkey. Avnet said that the acquisition would benefit the firm's strong position in Southern Europe. Avent Memec is the semiconductor specialist distributor of Avnet, Inc.