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Electronics Production | January 21, 2008

Farnell to make acqusition in India

Premier Farnell announces an agreement to make an acqusition in the Indian market.

UK based Premier Farnell advises that following the announcement of its signing of a letter of intent on October 3rd, 2007 and the completion of due diligence, it has entered into an agreement to acquire the assets and goodwill of Hynetic Electronics Private Limited used in carrying on its business in India as an existing authorised distributor of [Farnell' products. The purchase consideration will be satisfied in cash and not in excess of £0.5 million. Completion of the transaction is subject to the fulfilment of certain conditions and it is anticipated that the acquisition will be completed by January 31, 2008.
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