Avnet, Inc. Acquires Remaining Interest in MSC Investoren GmbH
Avnet, Inc. (NYSE: AVT) announced today that it has acquired the remaining interest in MSC Investoren GmbH ("MSC Group").
Avnet, Inc. (NYSE: AVT) announced today that it has acquired the remaining interest in MSC Investoren GmbH (“MSC Group”). This completes a two part transaction in which the majority interest was acquired on October 1, 2013. MSC is a recognized value-add distributor focused on electronic component distribution, embedded computing technology, and display solutions as well as design and manufacturing.
Patrick Zammit, president of Avnet Electronics Marketing EMEA, said, "The completion of the MSC acquisition allows us to begin realizing the full benefits of one of the best recognized distributors in the European market. Over the last few weeks we have been able to lay out the future strategy of Avnet Electronics Marketing EMEA including MSC and have received positive feedback from customers and manufacturing partners. Our plans to create a focused ‘embedded and display solutions’ business unit in EMEA will allow us to serve the technology value chain deeper and wider and accelerate profitable growth in the region.”
Founded in 1979, MSC Group has developed into a consultative partner for customers in the automotive, industrial automation, telecom, information systems and medical device markets. MSC Group's competence in system design, system integration and board-level assembly allows it to address customers' specific needs in leading-edge vertical markets. In calendar year 2012, MSC generated revenue in excess of US$450 million, with embedded computer technology (including display solutions) accounting for almost 50 percent of its sales.