Electronic components, connectors and technology applications provider Avnet has agreed to acquire the Magirus Group, a pan-European distributor of data centre applications and services for undisclosed sum.
Avnet Technology Solutions Global president Phil Gallagher said the acquisition of Magirus will enhance its position in Europe and the Middle East by expanding its suite of applications in high-growth technologies.
"We welcome the knowledge and expertise of their talented management team and staff, who will allow us to further enhance the value we provide to our customers and suppliers," Gallagher said.
Avnet Technology Solutions EMEA president Graeme Watt said Magirus’ position with the suppliers in high growth technologies will enhance its application practices and create cross-selling opportunities in the combined customer base.
"Its business model is a strong fit with our strategy to provide more value-add services, and the combined expertise of both organizations will enable us to accelerate the success of our customers and suppliers," said Watt.
Germany based Magirus provides software, systems and related services in Europe and the Middle East region and clocked a revenue of approximately $530m in the 2011.
Magirus provides software, systems and related services encompassing virtualisation, storage management, cloud computing, security, intelligent networks and information life-cycle management services.
The transaction is expected to close in October 2012 following regulatory approvals.
