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Avnet Inc. (NYSE: AVT), Phoenix, AZ, has agreed to acquire electronic components distributor Premier Farnell plc, Leeds, United Kingdom, for £691 million (US$906.8 million).
"This acquisition will significantly strengthen Avnet’s digital footprint worldwide," said Avnet interim CEO William Amelio. "The convergence of Premier Farnell’s innovative online services with Avnet’s world class supply chain will create customer service unparalleled in the industry. The talented team of people at Premier Farnell will allow Avnet to enhance our customer experience and accelerate our global growth."