from the September 2012 issue

Avent buys electronic components business

PHOENIX - Electronic components maker Avnet Inc. said that it bought the electronic components distribution business of Israel-based CRG Electronics Ltd.

Financial terms of the deal, which has already received regulatory approval, were not disclosed.

Founded in 1989, CRG provides engineers, marketing, sales and inventory logistics to over 300 customers in the networking, telecommunications, defense and industrial segments.

For the calendar year 2011, the electronic components business generated about $23 million in revenue, Avnet said.

Avnet said the acquisition would strengthen its position in the Israel's high-tech market by adding complementary product lines and a strong technical team. Avnet said it expects the deal to immediately boost its profits.

Reprinted from the Israel High-Tech & Investment Report September 2012

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