US distributor Nu
Horizons Electronics has agreed to acquire
Coventry-based DT Electronics.
DT is a specialist semiconductor distributor which had sales of
$25m in the last 12 months.
“We expect that our acquisition of DT will establish a footprint
for Nu Horizons' Distribution business within the European market,”
said Arthur Nadata, chairman and CEO for Nu Horizons
Electronics.
Following the acquisition, Nadata said he would combine the
business into “one seamless global infrastructure and operating
system, combining industry-leading technical sales and field
application engineers with world-class logistics.”
According toTony Frere, managing director for DT Electronics, Nu
Horizons Electronics shares a similar vision of having a limited
line card and design-in support.
The deal is subject to certain requirements, including the
satisfactory completion by Nu Horizons of its due diligence
investigation and the execution by the parties of a definitive
purchase agreement that has been approved by Nu Horizons' board of
directors.
The transaction is expected to close on or about August 15, 2006.
Financing for the acquisition will come from Nu Horizons' existing
cash on hand plus borrowings on current bank lines of credit.