Avnet to Acquire Assets of USI Electronics PDF Print E-mail
Written by Mike Buetow   
Thursday, 13 December 2012 10:40

PHOENIX-- Avnet has agreed to acquire substantially all of the operating assets of passive semiconductor distributor Universal Semiconductor for an undisclosed sum.

The transaction is expected to close within 30 days and will be integrated into Avnet Electronics Marketing, Americas.

Fort Lauderdale, FL-based USI supplies primarily to military customers. The firm has 58 employees across five offices in US and one in Denmark, and had revenue of approximately $70 million in calendar 2011.

The acquisition is expected to be immediately accretive to earnings and supports Avnet's return on capital goal of 12.5%.

“This acquisition is of strategic importance as it enhances our competitive position in the higher value defense and aerospace segment,” said Ed Smith, president Electronics Marketing, Americas. “USI is a respected leader and established player in the space with a strong emphasis on providing business partners a best-in-class experience. Their value proposition complements our strategy as we extend our leading position in serving the electronic component needs of this vital segment.”

 

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