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Avnet is in a bidding battle for UK-based Premier Farnell, which owns the element14 brand, with Datwyler Technical Components.
See also: Why Avnet wants to buy Premier Farnell
William Amelio, interim CEO of Avnet, said:
The talented team of people at Premier Farnell will allow Avnet to enhance our customer experience and accelerate our global growth.
It is significant that the Premier Farnell’s business will give Avnet something it has long wanted, a strong presence in the all-important online distribution market. It also gives it a large and growing chunk of the maker market, with the growing Raspberry Pi business.
Premier Farnell will bolster our strategy to provide a differentiated digital experience and its customers gain access to an extensive suite of supply chain services allowing them to ramp new products to production volumes,” said Gerry Fay, President of Avnet’s Electronics Marketing, Worldwide. “Bringing these two companies together allows us to capture market share earlier in the design process.
In addition to deepening our customer base, this acquisition will enhance our go-to-market strategy as we target the industrial Internet of Things with edge-to-enterprise products and solutions.
According to Avnet, the transaction is intended to be effected by means of “an English court-sanctioned scheme of arrangement and is subject to satisfaction or waiver of several conditions, including the approval of Premier Farnell shareholders and the court, receipt of regulatory approvals in the European Union, United States and Israel, and other customary conditions.”
Datwyler, with a market cap of £1.29 billion, is involved in food packaging, selling consumer electronics in Germany, and wholesale ICT equipment.
See also: Datwyler of Switzerland is to buy Premier Farnell for £792 million
See also: EETimes sold to Arrow Electronics
See also: Why Avnet wants to buy Premier Farnel
