Avnet Inc To Acquire MSC Group
Avnet Inc announced that they have entered an agreement to acquire MSC Investoren GmbH (MSC Group).
The terms of the agreement details the two-step approach set by Avnet. The terms are to acquire MSC Group after the regulatory approval has been granted with the intent to acquire the remainder of the company set within a short time frame.
MSC Investoren GmbH is a European distributor that is focused on electronic content distribution. MSC Group is a well recognized value-added distributor that leverages a unique combination of production, distribution and system integration capability that address the emerging customer demand for complex electronic products.
The transaction is subject to customary regulatory approvals. It is expected to be immediately accretive to earnings and will support Avnet's long-term return on capital goal of which is at 12.5%.
The operations of MSC Group is set to be integrated into the European business region of Avnet's Electronics Marketing operating group.