Azzurri acquisition set to strengthen Avnet

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. Steve Haynes, president of Avnet Memec EMEA stated: “I am enthusiastic about this acquisition, not just because it creates an opportunity to broaden our presence within our customer base, but also because Azzurri is the ideal match to Avnet Memec.” 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. “Design in distribution, with exceptional service to our customers and suppliers, is the foundation of our company,” added Azzurri’s president and ceo Mike Carlucci. “Avnet Memec has a similar approach to the marketplace and that is why the strategic fit is so strong. Both companies have much to gain from working together and merging them will bring many benefits to employees, suppliers and customers.”