In an effort to bolster its value-added storage and computing solution distribution business in North America and abroad, Avnet has agreed to buy all shares in computer components seller Bell Microproducts in an all cash merger for approximately US$252 million.
One of the largest distributors of electronic components, computer products and embedded technology, Avnet reported that it had entered into a definitive agreement to acquire Bell Micro for a total transaction value of approximately US$594 million assuming Bell Micro's net debt of US$342 million as of December 31, 2009. Approved by both companies' senior management, the transaction is expected to close in 60 to 120 days given the approval of shareholders and customary regulatory approvals.
Source: The WHIR
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