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Avnet appoints Graham McBeth as President of Premier Farnell
2017-01-10

American multispecialist Avnet has promoted Graham McBeth to the role of president of Premier Farnell. McBeth will report directly to Gerry Fay, president, global business units, Avnet. In his new role, McBeth will be responsible for the strategic direction, day-to-day operations and performance of Premier Farnell. McBeth, who most recently served as President of Avnet Abacus, the Avnet business specializing in interconnect, passive and electromechanical (IP&E) products throughout Europe, replaces Premier Farnell's interim President Steven Webb. Webb, a 16-year veteran of Premier Farnell, has played an integral role during the last several months in overseeing Premier Farnell's integration into the Avnet organization. He will remain with the company until January 31, 2017, to assist in the leadership transition. "Graham is an accomplished leader who knows how to win in the market. With his strong commitment to team building, Graham grew the Avnet Abacus division into one of the most well-respected IP&E businesses in Europe", said Fay. "His deep understanding of Avnet’s global business will enable Graham to serve as a great bridge for the Premier Farnell team, its customers and suppliers."

"Since Avnet first announced its intent to acquire Premier Farnell, I recognized what a tremendous opportunity this would be to advance Avnet’s strategy of providing customers with a differentiated digital experience throughout the entire product lifecycle", said McBeth. "This is the start of an exciting new chapter for both Avnet and Premier Farnell and I am thrilled to have the chance to help drive further success for our organization and our design and supply chain partners." A native of Scotland, McBeth is a results-oriented leader with extensive industry experience. He graduated from Glasgow University in 1984 and spent 11 years at National Semiconductor in a variety of roles, from product marketing to distribution and sales management. McBeth joined Abacus Group Plc in 1995, was appointed to the main board as technical director in 1997, and later became group managing director of Abacus with responsibility for the company's sales and marketing strategy. In 2009, following the acquisition of Abacus Group by Avnet, McBeth became president of Avnet Abacus and led the IP&E specialist to a top position in the European market.

Avnet agrees to sell Technology Solutions BU to Tech Data
2016-10-31

American multispecialist Avnet has entered into an agreement to sell its Technology Solutions operating group to broadliner Tech Data in a stock and cash transaction valued at approximately €2.35b, in what is surely the IT distribution biggest merger to date. The sale of this business provides both Avnet and Tech Data with immediate opportunities to focus on core strategies and scale their respective businesses, ultimately delivering greater profitability to their shareholders.

"We believe the acquisition of Technology Solutions by Tech Data is the best decision for our employees, customers, suppliers and shareholders. This transaction presents us with the best strategic path for Avnet's future success and profitability, and puts Technology Solutions in position to achieve breakthrough business results with Tech Data", said William Amelio, CEO of Avnet. "Moving forward, Avnet will focus its resources and investments on becoming a leader in design chain and supply chain services not only for our current customers and suppliers, but also for new markets. We will drive targeted investments in embedded solutions, Internet of Things (IOT) and critical digital platforms. By investing in these high growth areas, we can expand the breadth of our portfolio and attract new customers worldwide who depend on us to deliver world-class solutions."

Avnet's Technology Solutions operating group is an IT solutions distributor focusing on the datacenter, network, storage and security markets in more than 80 countries (in Austria, Belgium, Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, the Netherlands, Poland, Portugal, Romania, Slovakia, Spain, Switzerland, Turkey and the United Kingdom for the EMEA region, which will all reinforce local TD Azlan teams, or ought to create new business, such as in Hungary, India, Romania or Turkey). It provides next generation solutions, marketing, training, resources and services that span the cloud to the data center and encompass the entire IT lifecycle. They work with value-added resellers to make it easier and more affordable to enter and excel in high-growth technology and vertical markets locally and around the world.

"We are excited to announce this transformative transaction, which creates a premier global IT distributor with the most diverse end-to-end solutions from the data center to the living room", said Bob Dutkowsky, CEO of Tech Data. "This combination complements our value-added distribution capabilities in Europe and the Americas, while establishing Tech Data's presence in Asia-Pacific, which will be a new market for us. As a result of the enhanced value proposition created through this transaction, Tech Data will be even better positioned to capture opportunities in next-generation technologies, deliver differentiated value to our customers and vendor partners, support career development for our employees, and generate strong returns for our shareholders. We believe the strategic and financial benefits resulting from this transformative combination are compelling for both our company and our stakeholders. We look forward to welcoming the Technology Solutions team to the Tech Data family and are excited about the future opportunities ahead."

Patrick Zammit, president of the Technology Solutions business, said, "Industry standardisation, innovation and converging technologies have transformed our industry. The broader portfolio created through this combination will enable both businesses to better capitalise on these trends, while also providing new opportunities for Technology Solutions to optimise and expand its offering, as well as unlock value in ways we could not historically. Given the strength of our customer and vendor relationships, our common cultures and values, as well as the skilled and engaged teams at both businesses, I am confident that this is a winning combination."

Tech Data + Technology Solutions: strong platform for growth and value creation

  • Significantly broadens value-added distribution business: Technology Solutions is an established leader in value-added distribution, delivering superior technology solutions, services, software, and hardware across the data center, which is complementary to Tech Data's diversified portfolio of offerings and strategic areas targeted for growth. On a pro forma basis, Tech Data's revenues for the 12 months ended July 31, 2016 would have increased from €23.4b to approximately €31.6b, with revenue attributable to complex, higher-margin data center offerings increasing from approximately 29% to 45%. Pro-forma non-GAAP operating income for the 12 months ended July 31, 2016 would have more than doubled, after expected cost savings. Thanks to the sale, Avnet will be able to focus its investments on its semiconductor distribution arm, Avnet Electronic Components, especially on the IoT market, on which both distributors plans to build partnerships. Beside this, even if it will significantly grow its activities (up to €31.6m), Tech Data will not reach yet its nemesis, Ingram Micro, which generates a worldwide turnover of €45.1m. Also, most competitors will see this acquisition as an opportunity for capturing more business, especially in the EMEA region, as 1+1 seldom become 2 in M&As.
  • Increases Tech Data's ability to capitalise on key next-generation technologies: next-generation technologies, including converged and hyper-converged infrastructure, security, analytics and the cloud, represent a more than €405b market opportunity, which is expected to grow at a 13% compounded annual growth rate through 2019. The combination of Tech Data (€8.7b) and Technology Solutions will (€7.2b) create a premier IT distributor with unmatched skills, consultative expertise, and strong partner relationships to help its customers capture these next-generation technology opportunities.
  • Extends reach in new and existing regions, creating a more balanced geographic footprint: Tech Data's data center business is well-established in Europe and has a growing presence in North America. Overall, these regions represented approximately 61% and 39% of Tech Data's fiscal year 2016 revenues, respectively. With Technology Solutions, Tech Data will enhance its customer and product portfolios in the Americas and Europe, and establish an immediate presence in the fast-growing Asia-Pacific region, which will be a new market for Tech Data. Following the close of the transaction, Tech Data will expand its operations from 21 to 35 countries worldwide, with Europe comprising 53% of the Company's €31.6b pro forma revenues, the Americas 44% and Asia-Pacific 3%.
  • Expands go-to-market capabilities by adding complementary skills, vendor relationships and new customers: Technology Solutions partners with more than 40 of the world's top IT vendors to address the IT business needs of 20,000 customers in more than 80 countries. Tech Data has similarly strong and diversified relationships with more than 600 vendors and 105,000 customers. As a combined company, the Tech Data and Technology Solutions businesses can offer a broader and differentiated set of solutions to a larger and more diversified customer base, while enhancing relationships with channel partners.
  • Brings together teams with similar values and cultures: both Tech Data and Technology Solutions share a corporate culture centered on providing a world-class customer experience through teamwork, integrity, a passion for winning, and innovation. Tech Data expects that these shared values, as well as the expertise and talent from both organisations, will support a smooth integration following the close of the transaction.

Terms and Financing

Under the terms of the agreement, which was approved by the boards of directors of both companies, Avnet will receive €2.15b in cash and 2.785 million shares of Tech Data common stock, currently valued at approximately €180m and representing an approximate 7% ownership position in Tech Data. Tech Data intends to finance the cash portion of the consideration through a combination of cash on hand, drawings under its existing revolver, and proceeds from a new term loan facility and senior notes, which are backstopped by fully-committed debt financing from BofA Merrill Lynch. Following the close of the transaction, Tech Data will continue to benefit from strong cash flows to support debt reduction and organic growth initiatives. Tech Data expects to maintain an investment-grade profile and to reach a target leverage ratio of approximately 2.5x total debt-to-adjusted EBITDA within 18 to 24 months. The deal is of course subject to the approval of competition authorities throughout the world.

Avnet extends cash offer to acquire Premier Farnell
2016-09-09

Multispecialist Avnet has reached agreement with the Board of Directors of Premier Farnell plc (“Premier Farnell”), the maker of the Raspberry Pi, on the terms of a recommended offer for Premier Farnell by Avnet or one of its wholly-owned subsidiaries. The all-cash offer of €2.24 per share represents an equity value of approximately €836m and a 12.1% premium over the previous offer of €2 per share by Datwyler Technical Components UK. Headquartered in Leeds, United Kingdom, Premier Farnell is a global distributor of electronic components and related products delivering engineering solutions to the electronic system design community utilizing multi-channel sales and marketing resources. The transaction is intended to be effected by means of an English court-sanctioned scheme of arrangement and is subject to satisfaction or waiver of several conditions, including the approval of Premier Farnell shareholders and the court, receipt of regulatory approvals in the European Union, United States and Israel, and other customary conditions.

"This acquisition will significantly strengthen Avnet's digital footprint worldwide. The convergence of Premier Farnell's innovative online services with Avnet's world class supply chain will create customer service unparalleled in the industry", said William Amelio, interim Chief Executive Officer of Avnet. "The talented team of people at Premier Farnell will allow Avnet to enhance our customer experience and accelerate our global growth."

Upon completion, the transaction is expected to be accretive to earnings even before considering positive effects from any synergies realized, and supports Avnet's return on capital goals.

"Premier Farnell will bolster our strategy to provide a differentiated digital experience from product ideation through its lifecycle. Premier Farnell's customers gain access to an extensive suite of supply chain services allowing them to ramp new products to production volumes. Our customers will be able to do more technical research online through the services provided by Premier Farnell", said Gerry Fay, President of Avnet's Electronics Marketing, Worldwide "Bringing these two companies together allows us to capture market share earlier in the design process. In addition to deepening our customer base, this acquisition will enhance our go-to-market strategy as we target the industrial Internet of Things with edge-to-enterprise products and solutions."

Avnet names Bill Amelio CEO
2016-08-26

Multispecialist Avnet has appointed William (“Bill”) J. Amelio as Chief Executive Officer of the company. Mr. Amelio has been acting in the role of interim CEO of Avnet since July 11, 2016. Having spent most of his career in senior roles managing global technology enterprises and publicly traded companies, he brings more than 35 years of management and industry experience to Avnet.

William Schumann, Chairman of the Board said, "The board, under the leadership of the Corporate Governance Committee and with a nationally recognized executive search firm, conducted a review of both internal and external candidates that could be available and concluded that Bill is the best candidate for the CEO position. Avnet is fortunate to have someone of Bill’s character and experience. He brings energy and focus to the business, and the board unanimously agreed that making him the permanent CEO was in the best interest of our customers, employees and shareholders.

Commenting on his new role, Mr. Amelio said, “For me, Avnet is all about passion and possibilities. We have an experienced management team and an engaged workforce comprised of talented employees who are dedicated to serving our customers, suppliers and partners. By better aligning these resources with our competitive solutions specialist, embedded and supply chain strengths, Avnet will undoubtedly be positioned to achieve profitable growth for our shareholders and deliver upon the ever growing market potential in our industry.

Mr. Amelio was the president, chief executive officer and a director of CHC Group Ltd., an international oil-field services company, from 2010 to 2015. From 2005 to 2009, he served as president and chief executive officer of Lenovo, a multinational Fortune 500 technology company, and was previously a regional senior vice president and president, Asia-Pacific and Japan for Dell Inc. He began his career with the Microelectronics Technology Division of IBM in 1979 and later became the General Manager Worldwide Operations of the Personal Computer Division. Mr. Amelio also previously served on the Board of Directors of National Semiconductor. He has a chemical engineering degree from Lehigh University and a master’s degree in management from Stanford University.

MSC Technologies and H&D Wireless extend cooperation on IoT solutions
2016-08-09

Industrial computing specialist MSC Technologies and H&D Wireless have signed a collaboration agreement for H&D Wireless wireless modules for extended cooperation in smart home and enterprise applications for the European market. The business value for H&D Wireless of the signed contract is more than €2.7M already in 2016. The full wireless product portfolio of H&D Wireless will be offered via MSC Technologies offices in Austria, Czech Republic, France, Germany, Hungary, Italy, the Netherlands, Poland, Romania, Spain, Switzerland and Turkeyto the European market with a focus on IoT for smart home and enterprise such as Industry 4.0 but also wireless multimedia applications such as streaming video and audio. The wireless modules are world class in power consumption, size, cost and support both 802.11bgn+BLE+NFC for embedded IoT applications and 802.11ac+BT Classic for multimedia. An extended consulting and support service is offered by both companies. New products, such as the high performing SPB209 Wi-Fi/Bluetooth combi module, have been mutually launched at embedded world 2016 already.

"The IoT market is deemed to explode over the next years and we are happy to now be able to support that with the world leading IoT products, expertize and design support from H&D Wireless", explains MSC President Dr. Dominik Reßing. "With the MSC sales, FAE network and world class logistic centers we target to expand our sales by several 100 % and also penetrate more of Europe's major industrial companies", says H&D Wireless CEO Pär Bergsten.

 

MSC Turkey
Address

MSC Turkey
Inönü Cad. Seylan İş Merkezi No:75 Kat:6
TR-81090 Kozyatağı - İstanbul
Turkey
Phone : +90 (0)216 411 23 33
Fax : +90 (0)216 411 39 35
Website : http://www.msc-technologies.eu
E-mail : turkey@msc-ge.com

Team

CEO : Mr Lothar Kümmerlin

Information

Indirect turnover : 80%
National/regional/export split : 100/0/0
Specialist : Industrial computing, semiconductors and electronic components, storage
Main brands : Atmel, Cree, KOE Display, SanDisk, TRS (Star Touch)
Clients : Industrials, OEM, specialized resellers