Electronics distributor Avnet, Inc., Phoenix, AZ, has agreed to acquire Access Distribution, a General Electric company and distributor of complex computing solutions. Avnet will pay $412.5 million in cash.
The acquisition makes Avnet a leading distributor for Sun Microsystems. Avnet will create a separate business unit for the account, similar to how it operates with IBM and HP.
Projected sales for Access Distribution are expected to be more than $2 billion in calendar 2006, with roughly 90% coming from the Americas and the remainder from Europe. Access employs 600 people.
Access Distribution markets a portfolio of technology products highly complementary to Avnet’s existing offerings and will be integrated into Avnet’s Technology Solutions Group. Upon completion of the acquisition, TS will generate revenues from more than 35 countries.
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