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Avnet completes Horizon deal

by Stuart Wilson, Monday 7 July 2008

Avnet has bolstered its position in the UK market and boosted its presence in Ireland after completing the acquisition of value-added distributor Horizon Technology for US$156.1m. The transaction is expected to be accretive to earnings by approximately US$0.10 per share in the 2009 financial year, excluding integration charges.

John Paget, global president of Avnet Technology Solutions, commented: "The acquisition strengthens our competitive position in the UK IT distribution market by expanding our product line in high growth segments including storage, networking and security. It also expands our geographic coverage into the IT distribution market in Ireland with a suite of services and capabilities that support our strategy to deliver complete solutions that meet the increasingly complex requirements of our customer base."

Horizon has grown to become one of the leading systems integration and distribution companies in the UK and Ireland. Horizon’s distribution business markets enterprise server, storage, networking, security and communications products from leading vendors including Sun Microsystems, EMC, F5 Networks, Juniper, IBM, Nortel, Oracle and Tandberg. In addition to the traditional distribution business, its client solutions business unit partners with major software vendors including BMC, Microstrategy and SAP to provide a full range of development and implementation services. Horizon will be integrated into Avnet’s European Technology Solutions business.

Dick Borsboom, president of Avnet Technology Solutions EMEA, added: "By investing heavily in technical skills, Horizon has expanded their line card with tier one vendors and deepened their engagements with systems integrators, corporate resellers and managed service providers. The integration of Horizon’s talented employees and loyal customer base into Avnet Technology Solutions European operations will enhance our scale and scope advantages while providing additional cross-selling opportunities in the combined customer base."

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