Avnet Buys Source Electronics

Phoenix-based Avnet, a electronics distributor, said Monday that it has acquired New Hampshire-based Source Electronics Corporation, a provider of custom programming services for integrated circuits. Financial terms of the deal were not disclosed. Avnet said it would integrate Source into its Avnet Logistics division, as part of its services operations. Source provides it services to OEMs, contract manufacturers, and component manufacturers. According to Avnet, Source had $82M in revenues for the calendar year ended December 31, 2007.