Avnet completes acquisition of Premier Farnell
Significantly expands customer base and digital footprint worldwide
Avnet Inc. has completed its acquisition of Premier Farnell plc in an all cash merger, as approved by Premier Farnell shareholders representing 99.9% of the votes cast and has received all regulatory approvals.
“The combination of Premier Farnell with Avnet’s components business will create a truly unique distribution model that supports customers at every stage of the product lifecycle,” says William Amelio, chief executive officer of Avnet. “By pairing our deep expertise in large volume broadline distribution with Premier Farnell’s specialization in proof of concept and design, we can offer true end-to-end solutions that accelerate a customer’s time-to-market and moves their products seamlessly from prototype through to volume production,” Amelio adds. “As technology reaches deeper into more products and innovation proliferates through the internet of things, the ability to reach a wider base of engineers earlier in the design process will be critical to our future growth and success.”
Headquartered in Leeds, United Kingdom, Premier Farnell is a global distributor of electronic components that utilizes a digital platform to provide innovators and engineers with the latest products, services and development software. The company supports a registered community of more than 430,000 members in 36 countries with multi-channel sales and marketing resources that combine traditional field sales and contact resources with innovative ecommerce interfaces.