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Avnet Inc. (NYSE: AVT), Phoenix, AZ, has acquired a majority interest in Hackster Inc., San Francisco, CA. This is the first step of a two-part transaction in which Avnet will acquire the remainder of the company in January 2017. Terms were not disclosed.
Hackster.io is an online community that helps users globally learn how to design, create and program Internet-connected hardware.
“The addition of Hackster’s online platform will enable users to accelerate their hardware knowledge and time-to-market,” said William Amelio, CEO of Avnet. “The combination of Hackster.io with Avnet’s recently launched MakerSource resource directory and acquisition of Premier Farnell’s element 14 community will allow start-ups to design and create new ideas, then quickly find the resources to support them as they prepare to take their product to market.”