Avnet, Inc. Announces a Tender Offer for Internix, Inc.
Acquisition of Electronic Components Distributor Expands Supplier and Customer Partnerships While Strengthening Technological Expertise
Avnet, Inc. announced today that, through a wholly-owned subsidiary, it has launched a tender offer bid for all outstanding shares of Internix, Inc. (Internix), a publicly traded company on the Tokyo Stock Exchange (TSE: 2657), substantially expanding its presence in the Japanese market. Established in 1970 by founder the late Yoshiharu Fujisawa, Internix is an electronics components distributor representing both Japanese and foreign suppliers serving primarily Japanese original equipment manufacturers. The tender offer has been unanimously approved by the board of directors of Internix and is expected to be completed by the end of August 2012.
"This acquisition is another step in our multiyear strategy to expand our business in the sizeable yet fragmented Japan distribution market," commented Harley Feldberg, president, Avnet Electronics Marketing, Global. "The Internix business will add complementary suppliers and an experienced engineering design-in team focused on collaborating with partners to create design chain solutions that are the most suitable for a given application. These talented technical resources enhance the breadth of our design chain services offerings in the Japan market. The combination of the businesses will not only increase our scale and scope in country but also leverage Electronics Marketing's global logistics capability as we can provide complete supply chain support to Japanese OEMs wherever their products are manufactured."
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.