||10/1/2012 12:04:04 PM|
Avnet, Inc. Completes the Acquisition of Magirus Group, Expands Footprint of Strategic Technologies in the EMEA Region
Avnet, Inc. (NYSE:AVT) announced today that it has closed the
acquisition of the Magirus Group (Magirus), a leading pan-European
distributor of data center solutions and services. Magirus is a leading
value-add distributor of software, systems and related services
encompassing virtualization, storage management, cloud computing,
security, intelligent networks, open source and information life-cycle
management services. Through its professional services portfolio and
knowledge of the IT sector, Magirus enables business partners to take
new technologies to market in 11 markets throughout Europe and the
Middle East. The company generated revenue of approximately US$530
million in the 2011 calendar year.
Phil Gallagher, president of Avnet Technology Solutions, Global,
commented, "We are very excited with the addition of Magirus to our
existing resources and footprint in EMEA. We believe we have the
opportunity to create an exciting and, in some cases, unique value-added
distribution offering in the market. Their talented team and key
customer relationships will enhance our competitive position in Europe
and the Middle East. In addition, Magirus’ portfolio of services expands
our suite of solutions in high-growth market segments which helps us
satisfy the increasing customer appetite for integrated and virtualized
solutions. Magirus increased its revenue 20% in calendar 2011,
delivering powerful, flexible and cost-effective data center solutions
from a breadth of suppliers, including Cisco, VMware and EMC."
Founded in 1981, Magirus has 400 business and technical professionals
that help over 4,500 resellers, system integrators and IT service
providers develop and deploy IT infrastructure solutions that bring
together traditional server, storage and network operations so that
constantly changing business requirements can be supported more
efficiently. Its services span demand generation, pre-sales,
consultancy, training, certification, implementation as well as support
from its pan-European, multi-lingual support center. Magirus will be
integrated into Avnet Technology Solutions’ EMEA business.
Graeme Watt, president, Avnet Technology Solutions (TS) EMEA,
commented, “Adding to our portfolio in high-growth technologies while
also strengthening our presence in key geographies is a strategic
imperative to accelerate profitable growth in TS EMEA. The Magirus
acquisition is an excellent fit with our current operations as it adds
complementary product lines across the region, while meaningfully
increasing our scale in important markets. Magirus' position with
market-leading suppliers will bolster our solutions practices and create
significant cross-selling opportunities in the combined customer base.
Through this acquisition, our customers and suppliers will benefit
significantly as the combined expertise of both organizations will
enable us to accelerate their success."
This acquisition is expected to be immediately accretive to earnings
and achieve Avnet's return on capital goal of 12.5% within two years.