Avnet has moved to strengthen its presence in the European market with the announcement that it has entered into an agreement to acquire UK based distributor of high technology semiconductors and embedded systems products, Azzurri Technology.Upon closing of the transaction, Azzurri will be integrated into Avnet Electronics Marketing EMEA, primarily within Avnet Memec. Whilst the acquisition is said to add new semiconductor suppliers to Avnet Memec’s product portfolio and to expand Avnet’s presence in Europe’s largest markets, Azzurri’s president and ceo, Mike Carlucci is keen to point out that Azzurri is not being engulfed by some ‘huge giant’.“Azzurri sees the acquisition as an opportunity to take more product lines and gain access into other markets throughout Europe – particularly as we’re being pushed by suppliers to open up in Nordic countries, as well as Eastern Europe, Spain and Portugal,” he began. “Avnet Memec has acquired Azzurri to give its customers and suppliers a dedicated and personal service and Azzurri can help to accelerate this process for them.” The two organisations share the same market approach, have complementary line cards and put design and engineering expertise at the core of their value proposition for customers and suppliers. “Avnet Memec’s ‘go to market’ philosophy is very similar to our own,” he continued. “Azzurri now has the financial backing of a large organisation, even though Avnet Memec is still a small part of the Avnet group.” Carlucci foresees more consolidations over the next six months: “You may see one or two other companies surprise the industry by merging with larger companies,” he added.
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