Monday, June 30, 2008

Avnet Acquires U.K. Distributor for $156.1M

Phoenix-based electronic components and computer products distributor Avnet Inc. announced Monday that its $156.1 million offer to purchase Horizon Technology Group PLC has been unconditionally accepted. Headquartered in the United Kingdom, Horizon provides technical integration and IT product distribution throughout the United Kingdom and Ireland. The company's distribution business markets enterprise server, storage, networking, security and communication products from big-name vendors such as Sun Microsystems, IBM, Nortel and Oracle. Avnet said it has assigned Horizon to Avnet's European Technology Solutions division.