Avnet To Acquire MSC Investoren GmbH - Quick Facts

(RTTNews) - Avnet Inc. (AVT) announced that it has entered into an agreement to acquire MSC Investoren GmbH, a European distributor focused on electronic component distribution, embedded computing technology and display solutions.

Avnet said that the agreement details a two-step approach whereby Avnet will acquire a majority interest in MSC Group after regulatory approval has been granted with the intent to acquire the remainder of the company within a short time frame.

Founded in 1979, MSC Group has grown to be a consultative partner to customers in the automotive, industrial automation, telecom, information systems and medical device markets. The company generated revenue in excess of US$450 million in the 2012 calendar year, with embedded computer technology, including display solutions accounting for almost 50% of its sales. The operations of MSC Group will be integrated into the European business region of Avnet's Electronics Marketing operating group,Avnet said.

This transaction is expected to be immediately accretive to earnings and supports Avnet's long-term return on capital goal of 12.5 percent.