Electronics Production | August 30, 2006
Nu Horizons finalizes acquisition of DT Electronics
Nu Horizons Electronics Corp is now taking its serious steps into the European electronics market.
Under the terms of the agreement, Nu Horizons paid approximately $5.5 million in cash for Coventry based DT Electronics. The transaction also provides for potential additional payments to the sellers in three installments through 2009 from a minimum GBP 849,426 up to a maximum GBP 2,548,276. "We are pleased that we were able to successfully complete our acquisition of DT Electronics", said Arthur Nadata, Chairman and CEO for Nu Horizons Electronics Corp. "We expect that our partnership will further enhance our global delivery capabilities as we strategically expand our footprint in the European market". "We believe that our similar business model of carrying a limited line card and employing a customer-centric approach to conducting business will cultivate a growing, effective, competitive presence in the region". Tony Frere, Managing Director for DT Electronics concludes: "All of us at DT Electronics are excited to join the Nu Horizons Electronics family". "Our customers can be assured of a seamless integration as we migrate to Nu Horizons global infrastructure and operating system". "We believe the combination of our technical sales and engineering teams will set a new standard of world-class service and support within the electronics industry".