29.08.2006 18:26:00
|
Nu Horizons Electronics Corp. Completes Acquisition of UK-based Components Distributor DT Electronics Ltd.
Under the terms of the agreement, Nu Horizons paid approximately$5.5 million in cash. The transaction also provides for potentialadditional payments to the sellers in three installments through 2009from a minimum GBP 849,426 up to a maximum GBP 2,548,276. Payments ofany amounts above the minimum are contingent upon the attainment ofcertain earnings milestones by DT Electronics during the three yearperiod.
DT Electronics had $23 million in sales for the twelve monthperiod ended March 31, 2006 and is expected to be accretive to NuHorizons current fiscal year net income.
"We are pleased that we were able to successfully complete ouracquisition of DT Electronics," said Arthur Nadata, chairman and CEOfor Nu Horizons Electronics Corp. "We expect that our partnership willfurther enhance our global delivery capabilities as we strategicallyexpand our footprint in the European market. We believe that oursimilar business model of carrying a limited line card and employing acustomer-centric approach to conducting business will cultivate agrowing, effective, competitive presence in the region."
Tony Frere, managing director for DT Electronics concludes, "Allof us at DT Electronics are excited to join the Nu HorizonsElectronics family. Our customers can be assured of a seamlessintegration as we migrate to Nu Horizons global infrastructure andoperating system. We believe the combination of our technical salesand engineering teams will set a new standard of world-class serviceand support within the electronics industry."
About DT Electronics Ltd.
Established in 1987, DT Electronics' products come from leadingsuppliers of semiconductors, power supplies and passive components.Their customers include those in broadcast, communications,industrial, instrumentation, medical and consumer electronics markets.DT Electronics is distinguished by leadership in technical design-inwork and has received numerous supplier and customer awards inrecognition of this expertise.
About Nu Horizons Electronics Corp.
Nu Horizons Electronics Corp. is a leading global distributor ofadvanced technology semiconductor, display and system solutions to awide variety of commercial original equipment manufacturers (OEMs) andElectronic Manufacturing Services providers (EMS). With salesfacilities in 48 locations across North America, Europe and Asia andregional logistics centers throughout the globe, Nu Horizons partnerswith a limited number of best-in-class suppliers to provide in-depthproduct development, custom logistics and life-cycle support to itscustomers. Information on Nu Horizons and its services is available athttp://www.nuhorizons.com
Except for historical information contained herein, the mattersset forth in this news release are forward looking statements thatinvolve certain risks and uncertainties that could cause actualresults to differ from those in the forward-looking statements. Whenused in this press release, words such as "anticipate," "believe,""estimate," "expect," "intend" and similar expressions, as they relateto Nu Horizons or its management, identify forward-looking statements.Such forward-looking statements are based on the current beliefs of NuHorizons' management, as well as assumptions made by and informationcurrently available to its management. Actual results could differmaterially from those contemplated by the forward-looking statementsas a result of certain factors such as the level of business andconsumer spending for electronic products, the amount of sales of NuHorizons' products, the competitive environment within the electroniccomponent industry, the ability of Nu Horizons to continue to expandits operations, the ability of Nu Horizons to successfully integrateDT's operations, the level of costs incurred in connection with NuHorizons' expansion efforts and the financial strength of Nu Horizons'customers and suppliers. Investors are also directed to consider otherrisks and uncertainties discussed in documents filed by the Companywith the Securities and Exchange Commission. Nu Horizons does notundertake any obligation to update such forward-looking statements.
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu Arrow Electronics Inc.mehr Nachrichten
20.11.24 |
Arrow Electronics Fuels SAVART Motors’ EV Manufacturing Expansion in Indonesia (EQS Group) | |
20.11.24 |
Arrow Electronics Fuels SAVART Motors’ EV Manufacturing Expansion in Indonesia (EQS Group) | |
12.11.24 |
Arrow Electronics Brings Engineering and Supply Chain Capabilities for a Broader Ecosystem across GBA (EQS Group) | |
30.10.24 |
Ausblick: Arrow Electronics veröffentlicht Zahlen zum vergangenen Quartal (finanzen.net) | |
28.08.24 |
Arrow Electronics and onsemi to Showcase Autonomous Mobile Robot Platform for Smart Manufacturing Applications at PCIM Asia (EQS Group) | |
31.07.24 |
Ausblick: Arrow Electronics vermeldet Zahlen zum jüngsten Quartal (finanzen.net) |
Analysen zu Arrow Electronics Inc.mehr Analysen
Aktien in diesem Artikel
Arrow Electronics Inc. | 109,00 | 1,87% |