The EU has given the thumbs up for Avnet to complete the acquisition of the UK-based Abacus Group.
Avnet says the Abacus businesses will be integrated into the Avnet European Electronics Marketing businesses.
There are immediate benefits to Avnet. Abacus's top notch Interconnect, Passive and Electromechanical (IP&E) doubles Avnet's business in these market sectors at a stroke. It also strengthens Avnet's hand in the UK distribution market. In addition Abacus was particularly adept at serving the small to medium size businesses in the UK, and Harley Feldberg, global president of Avnet Electronics Marketing reckons this offers significant cross-selling opportunities for his company.
Embedded systemsand displays are other strengths Abacus will bring to the Avnet product mix.
Patrick Zammit (pictured), president of Avnet Electronics Marketing EMEA commented: "As we develop our integration plan we are impressed with the calibre of Abacus's organisation and are excited about the potential growth opportunities once the integration is complete. We will enhance our competitive position and become an industry leader not just in semiconductors, but also in IP&E, embedded solutions and displays."
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