EC green-lights Avnet's acquisition of Germany-based Magirus EID

By Colleen Taylor, Contributing Editor -- Electronic News, 10/5/2007

Marking yet another European expansion for the Arizona-based electronic components distributor, Avnet Inc.  has received clearance from the European Commission (EC) for its proposed acquisition of Magirus EID, the infrastructure distribution business of the German Magirus Group.

In a statement made today, the EC said it has concluded after examining the operation that the transaction "would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it." The EC added that the combined entity "would continue to face several effective competitors with significant market shares and so maintain choice for consumers."

Magirus EID is the infrastructure division which distributes products of the Magirus Group, such as servers, storage systems and middleware products.

Avnet has been on an acquisitions spree in recent months, with an intense focus on expanding within the European market. Last month, Avnet announced it had entered into an agreement to acquire the IT solutions division of Britain-based electronics distributor Acal plc, as well as the Berlin, Germany-based passive components distributor Betronik GmbH. In July, Avnet acquired U.K.-based interconnect, passive and electromechanical (IP&E) distributor Flint Distribution Ltd. And in November 2006, Avnet bought ESCO Italiana, an Italy-based semiconductor and embedded systems specialist distribution company, and inked a pan-European distribution agreement with Germany-based company Weidmuller to add to its board level interconnect portfolio.