Avnet has announced its intentions to acquire Magirus Group's European Enterprise Infrastructure Division.
The deal would see it incorporated into Avnet's European Technology Solutions division. Aside from the deal making the firm the largest enterprise solutions distributor in Europe, it would also see the company pick up the distribution accounts for HP and IBM in Austria, Denmark, Germany, Italy, Sweden, Switzerland and the U.K. as well as Dubai and the United Arab Emirates in the Middle East.
"With this acquisition, Avnet Technology Solutions will be the largest value-added distributor for enterprise solutions in Europe," said CEO and chairman of Avnet, Roy Vallee (pictured). "This strategic investment in our Technology Solutions business in EMEA [Europe Middle East and Africa] is consistent with our stated desire to expand our successful TS business model globally."
Subject to regulatory approval, the deal will be complete by the end of October 2007, while integration is expected to be finished by June 2008.