Avnet has entered into a definitive agreement to acquire the UK-based distributor Azzurri Technology.

The business which specialises in the design-in of semiconductor products will become part of Avnet Memec and will increase its revenues by over 40%.

According Harley Feldberg, president of Avnet Electronics Marketing: “Adding Azzurri’s design and engineering expertise to our European team will enhance Avnet Memec’s position as the leading pan-European specialist distributor and will benefit both customers and suppliers alike.

Ten year old Azzurri has operations in the UK, Germany, France and Italy with annual revenues of $100m and it employs about 80 people.
 
"The acquisition will add new semiconductor suppliers to Avnet Memec’s breadth of product offerings in microprocessors, microcontrollers and analog components and expands our presence in Europe’s largest markets,” said Feldberg

“Design-in distribution with exceptional service to our customers and suppliers is the foundation of our company,” said Mike Carlucci, Azzurri’s president and CEO. “Avnet Memec has a similar approach to the marketplace and that is why the strategic fit is so strong." 

The transaction is expected to be immediately accretive to earnings, excluding minimal integration charges.