Avnet Inc. (NYSE: AVT), Phoenix, AZ, has entered into an agreement to acquire MSC Investoren GmbH, a European distributor focused on electronic component distribution, embedded computing technology and display solutions. The agreement details a two-step approach whereby Avnet will acquire a majority interest in MSC Group after regulatory approval has been granted with the intent to acquire the remainder of the company within a short time frame.
MSC Group had sales in excess of $450 million in the 2012 calendar year, with embedded computer technology (including display solutions) accounting for almost half of total sales. The company serves as a consultative partner to customers in the automotive, industrial automation, telecom, information systems and medical device markets, providing a range of technical support throughout the entire product development chain.
The operations of MSC Group will be integrated into the European business region of Avnet’s Electronics Marketing operating group.
