Date: 04/10/2012

Avnet completes the acquisition of Magirus Group

Avnet, Inc. has announced that it has closed the acquisition of the Magirus Group. Magirus is distributor of software, systems and related services encompassing virtualization, storage management, cloud computing, security, intelligent networks, open source and information life-cycle management services. The company generated revenue of approximately US$530 million in the 2011 calendar year.

Phil Gallagher, president of Avnet Technology Solutions, Global, commented, "We are very excited with the addition of Magirus to our existing resources and footprint in EMEA. We believe we have the opportunity to create an exciting and, in some cases, unique value-added distribution offering in the market. Their talented team and key customer relationships will enhance our competitive position in Europe and the Middle East. In addition, Magirus’ portfolio of services expands our suite of solutions in high-growth market segments which helps us satisfy the increasing customer appetite for integrated and virtualized solutions. Magirus increased its revenue 20% in calendar 2011, delivering powerful, flexible and cost-effective data center solutions from a breadth of suppliers, including Cisco, VMware and EMC."