Avnet, Inc. (NYSE: AVT), Phoenix, AZ, has agreed to acquire the Magirus Group, a pan-European distributor of data center solutions and services.
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Magirus helps resellers, system integrators and information technology service providers develop and deploy IT infrastructure solutions. The company generated revenue of approximately US$530 million in the 2011 calendar year.
"The acquisition of Magirus will significantly enhance our competitive position in Europe and the Middle East by expanding our suite of solutions in high-growth technologies,” said Phil Gallagher, global president, Avnet Technology Solutions. “Magirus increased its revenue 20 percent in calendar 2011, delivering powerful, flexible and cost-effective data center solutions from a breadth of suppliers, including Cisco, VMware and EMC.”
The acquisition, which is subject to normal regulatory approvals, is expected to close in October 2012 and will be integrated into the operations of Avnet Technology Solutions.
