Avnet to Buy GE's Access Distribution for $412.5M
Electronics distributor Avnet, Inc., Phoenix, AZ, has agreed to acquire Access Distribution, a General Electric company and distributor of complex computing solutions. Avnet will pay $412.5 million in cash.
The acquisition makes Avnet a leading distributor for Sun Microsystems. Avnet will create a separate business unit for the account, similar to how it operates with IBM and HP.
Projected sales for Access Distribution are expected to be more than $2 billion in calendar 2006, with roughly 90% coming from the Americas and the remainder from Europe. Access employs 600 people.
Access Distribution markets a portfolio of technology products highly complementary to Avnet's existing offerings and will be integrated into Avnet's Technology Solutions Group. Upon ...