Monday, April 21, 2008
Avnet Makes $156M Bid for Ireland's Horizon Technology Group
Phoenix-based electronics components distributor Avnet Inc. announced Friday that it has made a cash offer to acquire the Horizon Technology Group PLC, an Ireland-based distributor and integrator of information technology products. Avnet said its all-cash offer calculates to some $156.1 million, or about $1.87 per share of Horizon stock. The transaction, Avnet noted, is subject to customary closing conditions, both foreign and domestic, and is expected to close by the end of June. Horizonís distribution business markets enterprise server, storage, networking and security products from vendors such as Sun Microsystems, EMC, F5 Networks Juniper, IBM and Nortel.