EU Clears US Tech Distributor Avnet to Buy Bell Micro
03 July 2010 - 2:10AM
Dow Jones News
The European Commission Friday cleared U.S. information
technology distributor Avnet Inc. (AVT) to buy U.S. technology
distributor Bell Microproducts Inc. (BELM) for $252 million.
The deal, the largest in Avnet's history, is intended to
strengthen Avnet's presence in Latin American markets and expand
the company's storage capabilities, said Avnet CEO Roy Vallee in a
statement in March.
The company also hopes to revive sales of products such as hard
drives after recent difficulties owing to the global economic
recession.
-By David Tidmarsh, Dow Jones Newswires; +32 (0)2 741 1 489;
david.tidmarsh@dowjones.com
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