Future Electronics has acquired French component distributor PN Electronics (PNE).

This is latest move in a period of consolidation in the European distribution market and follows on the heels of Avnet’s acquisition of Azzurri Technology in January.

PNE, which sells electro-mechanical components, passives and semiconductors, has annual sales revenue of around $60m. The deal affectively doubles Future's market share in the region.

"In PNE we are gaining in France the kind of local footprint and customer base that it might otherwise take us many years to build up,” said Danny Miller, European managing director of Future Electronics.

Upon closing, PNE will operate as a sales channel in France separately from the existing Future Electronics operation in France.

According to Christian Berquier, the founder and owner of PNE: “Future will give us the best synergy to support our offer of technical support and high added value services for our customers.”