Following the $2.6 billion sale of its Technology Solutions business to IT distributor Tech Data, Avnet Inc. is doubling down on its components business with an eye toward leadership in both design chain and supply chain services. With the acquisition of U.K-based Premier Farnell plc poised to move forward, Avnet expects to be a $17…
At the end of the year, Avnet Inc., the longtime global revenue leader in combined components and systems sales, is going to look very different from the company that recently celebrated more than 60 years in the electronics distribution business. $26.2 billion Avnet and its nearest competitor Arrow Electronics Inc., with sales of $23.28 billion…
Ed Smith, who was recently promoted to Avnet Inc. senior vice president of embedded systems, global, has left the distributor effective today, a corporate spokeswoman confirmed. Smith, a 20-year veteran of Avnet, served as president of Avnet Electronics Marketing Americas since 2009 and was elected as a corporate officer in 2010. Prior to that Smith…
As one of the world’s two largest electronics distributors, Arrow Electronics Inc. has perspective from more than 700 electronics component suppliers and 100,000 or so customers. During its Q2 conference call with analysts, Arrow executives said Brexit is having a mixed impact on Arrow’s main businesses, components and computer systems; supplier consolidation is benefiting the…
Avnet Inc.’s acquisition offer for Premier Farnell plc is undoubtedly one of the more controversial M&A moves in its history coming fast on the heels of the abrupt sacking last month of its CEO and his replacement by a member of the board of directors. The shock of the Premier Farnell transaction is not just…
If Avnet Inc. really wants Premier Farnell plc, it will have to write a much bigger check than the £691 million ($912 million) it has offered for the company. The acquisition target’s market value surged to nearly £729 million only one day after Avnet made its bid, indicating investors believe the British distributor can attract…
Avnet Inc. has swooped in to buy Premier Farnell plc for approximately £691 million or $907 billion, which outbids Datwyler Technical Components’ offer by 12.1 percent. This acquisition follows a tough year for the $27.9-billion global technology distributor with the recent resignation of Rick Hamada as CEO and struggling sales growth. In June, Premier Farnell…
Phoenix, Ariz. —Avnet, Inc. (NYSE:AVT) announced today that it has reached agreement with the Board of Directors of Premier Farnell plc (“Premier Farnell”) on the terms of a recommended offer for Premier Farnell by Avnet or one of its wholly-owned subsidiaries. The all-cash offer of £1.85 per share represents an equity value of approximately £691…
The Newark brand name is still in evidence, but its future under new parent Datwyler is unclear. Although owner Premier Farnell had, for several years, tried to unite its global distribution businesses under the element14 brand, the Newark name never really went away. That’s a testament to the strength of a brand that’s endured since 1934 in spite of…
Premier Farnell PLC said it has agreed to be purchased by a division of Swiss industrial components distributor Dätwyler Group AG for approximately $867 million, creating a bigger player in the European components distribution industry while putting an end to the saga of one of Britain’s biggest electronics distributors. The transaction is expected to set…