Saturday, June 24, 2006
Nu Horizons to acquire DT Electronics
Nu Horizons Electronics Corp has signed a nonbinding letter of intent to acquire DT Electronics, a franchised technical distributor of electronics components based in Coventry, UK.
Nu Horizons Electronics Corp has signed a nonbinding letter of intent to acquire DT Electronics, a franchised technical distributor of electronics components based in Coventry, UK. For its most recent fiscal year ended 31st March 2006, DT Electronics' has reported unaudited revenues of approximately US $25 million. Consummation of this transaction is subject to certain requirements, including the satisfactory completion by Nu Horizons of its due diligence investigation and the execution by the parties of a definitive purchase agreement that has been approved by Nu Horizons' board of directors.
The transaction is expected to close on or about 15th August 2006.
Financing for the acquisition will come from Nu Horizons' existing cash on hand plus borrowings on current bank lines of credit.
Established in 1987, DT Electronics' products come from leading suppliers of semiconductors, power supplies and passive components.
Its customers include those in broadcast, communications, industrial, instrumentation, medical and consumer electronics markets.
DT Electronics is distinguished by leadership in technical design-in work and has received numerous supplier and customer awards in recognition of this expertise.
Arthur Nadata, Chairman and CEO for Nu Horizons Electronics states: 'We are very pleased to have reached a preliminary agreement to acquire DT Electronics'.
'We expect that our acquisition of DT will establish a footprint for Nu Horizons' Distribution business within the European market'.
'We believe that the acquisition will be synergistic due to each company's complimentary supplier base, limited line card and demand creation business philosophy'.
'Following the acquisition, we intend to operate with one seamless global infrastructure and operating system, combining industry-leading technical sales and field application engineers with world-class logistics in our effort to set a new industry standard'.
Tony Frere, Managing Director for DT Electronics added: 'DT Electronics looks forward to finalising our agreement with Nu Horizons Electronics'.
'They have established a strong presence and reputation within the Americas and Asia Pacific'.
'Both companies share a similar vision of having a limited line card and customer-centric approach to conducting its business by gaining a deep understanding of suppliers' products and technologies and customers' requirements to deliver optimal service and support'.
Nu Horizons Electronics Corp has signed a nonbinding letter of intent to acquire DT Electronics, a franchised technical distributor of electronics components based in Coventry, UK. For its most recent fiscal year ended 31st March 2006, DT Electronics' has reported unaudited revenues of approximately US $25 million. Consummation of this transaction is subject to certain requirements, including the satisfactory completion by Nu Horizons of its due diligence investigation and the execution by the parties of a definitive purchase agreement that has been approved by Nu Horizons' board of directors.
The transaction is expected to close on or about 15th August 2006.
Financing for the acquisition will come from Nu Horizons' existing cash on hand plus borrowings on current bank lines of credit.
Established in 1987, DT Electronics' products come from leading suppliers of semiconductors, power supplies and passive components.
Its customers include those in broadcast, communications, industrial, instrumentation, medical and consumer electronics markets.
DT Electronics is distinguished by leadership in technical design-in work and has received numerous supplier and customer awards in recognition of this expertise.
Arthur Nadata, Chairman and CEO for Nu Horizons Electronics states: 'We are very pleased to have reached a preliminary agreement to acquire DT Electronics'.
'We expect that our acquisition of DT will establish a footprint for Nu Horizons' Distribution business within the European market'.
'We believe that the acquisition will be synergistic due to each company's complimentary supplier base, limited line card and demand creation business philosophy'.
'Following the acquisition, we intend to operate with one seamless global infrastructure and operating system, combining industry-leading technical sales and field application engineers with world-class logistics in our effort to set a new industry standard'.
Tony Frere, Managing Director for DT Electronics added: 'DT Electronics looks forward to finalising our agreement with Nu Horizons Electronics'.
'They have established a strong presence and reputation within the Americas and Asia Pacific'.
'Both companies share a similar vision of having a limited line card and customer-centric approach to conducting its business by gaining a deep understanding of suppliers' products and technologies and customers' requirements to deliver optimal service and support'.
# posted by Swathi @ 12:46 AM 
