Product category: Microprocessors, Microcontrollers and DSPs
News Release from: Nu Horizons Electronics Corp
Edited by the Electronicstalk Editorial Team on 11 June 2007
Acquisition expands German distribution share
Nu Horizons Electronics has acquired Munich based distributor Dacom-Sud Electronic Vertriebs
Nu Horizons Electronics Corp has acquired Dacom-Sud Electronic Vertriebs, a franchised electronic component distributor based in Munich, Germany. This acquisition follows less than 45 days since Nu Horizons set up its own German subsidiary. The European market is approximately the same sise as the North American market for distribution sales of semiconductors, and Germany is the largest market within Europe.
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Nu Horizons initially entered the European market through its acquisition of DT Electronics in the UK, completed in August of 2006.
The acquisition of Dacom-Sud is expected to rapidly expand Nu Horizons' customer reach within Germany.
Under the terms of the agreement, Dacom-Sud has become a wholly owned subsidiary of Nu Horizons Electronics.
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Nu Horizons has a new family of processors from Atmel that feature twice the Flash memory of their predecessors
Previous Dacom-Sud owner, Inge Merl, will remain as Managing Director for the subsidiary.
Nu Horizons paid approximately US $2.7 million in cash for this acquisition.
Dacom-Sud had approximately $6.2 million in sales for the 12-month period ended 31st December 2006 and the acquisition is expected to be accretive to Nu Horizons' current fiscal year net income.
'We are very pleased to broaden our reach into Germany's distribution market through the acquisition of Dacom-Sud', says Dave Bowers, President of Nu Horizons Distribution Division.
'Dacom-Sud employs a similar business philosophy of carrying a limited line card and focus on application support for customers together with effective demand creation for suppliers'.
Thomas Reisinger, Managing Director of Nu Horizons Electronics in Germany added: 'Dacom Sud brings additional experienced and technically well-qualified staff to our business while expanding our customer base in Germany'.
'The company has done an excellent job in representing Clare, Micrel and SMSC franchises and will continue to do so as we go forward together'.
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