Avnet acquires Abacus

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US electronics components distributor Avnet has acquired Abacus Group following approval from the EU Merger Regulation board.

The European Commission issued a statement saying that although Avnet would acquire a leading position in several countries for the distribution of semiconductors, the concentration would not significantly impede effective competition in the EEA, or any substantial part of it. The report added that Arrow Electronics, the largest distributor in Europe, would be able to act as a constraint on any ant competitive behaviour by the combined entity. Harley Feldberg, global president of Avnet Electronics marketing said: “The acquisition of Abacus represents an excellent strategic fit to our current business as their focus on strong technical support delivered to a diverse base of small to mid size customers should create significant cross selling opportunities for us.” Feldberg continued: “It doubles our IP&E business across the region, significantly improves our market position in the UK and establishes Avnet as a leading distributor of embedded solution and displays throughout Europe.”