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Avnet, Inc. Announces Intent To Acquire European Distributor MSC Investoren GmbH

Avnet, Inc. (NYSE: AVT) announced today that it has entered into an agreement to acquire MSC Investoren GmbH (“MSC Group”), a European distributor focused on electronic component distribution, embedded computing technology and display solutions. The agreement details a two-step approach whereby Avnet will acquire a majority interest in MSC Group after regulatory approval has been granted with the intent to acquire the remainder of the company within a short time frame.

MSC Group is a recognized value-added distributor that leverages its unique combination of distribution, production and system integration capability to address the emerging customer demand for more complex electronic products. The company generated revenue in excess of US$450 million in the 2012 calendar year, with embedded computer technology (including display solutions) accounting for almost 50% of its sales.

Harley Feldberg, president of Electronics Marketing Global, commented, “The addition of the MSC Group is a strong fit with our strategy to invest in margin enhancing acquisitions that complement our existing design and supply chain services, while also expanding growth opportunities in the region. With extensive engineering resources and a strong focus on design-in services, the MSC Group has built a solid reputation as a single source for complete solutions serving customers in the European industrial electronics market. By leveraging the combined skills of both organizations, we will be well positioned to better serve the needs of our customer base in the region.”

Founded in 1979, MSC Group has grown to be a consultative partner to customers in the automotive, industrial automation, telecom, information systems and medical device markets. MSC Group’s logistics and distribution capabilities, along with its competence in board-level assemblies and system integration, allows it to address customers’ demand profiles along the electronics value chain. With a team of field application engineers and product specialists, MSC Group provides a range of technical support throughout the entire product development chain from design to finished system. The operations of MSC Group will be integrated into the European business region of Avnet’s Electronics Marketing operating group.

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