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Avnet Buys Japanese Firm

Phoenix-based electronics distributor Avnet said Sunday that it has entered into an agreement to acquire a Japanese distributor of electronic components, Nippon Denso Industry Co., Ltd. Financial terms of the deal were not disclosed. According to Avnet, Nippon Denso Industry will become part of its subsidiary, Avnet Japan Co., Ltd. Nippon Denso also provides design capabilities in the semiconductor and sub-system areas. Avent said NDi has annual revenues of $170M for its fiscal year ended March 31, 2008. The acquisition doubles the size of Avnet's business in Japan.