Electronic component distributor Avnet has agreed to buy all operating assets of military and aerospace semiconductor provider Universal Semiconductor Inc., known as USI Electronics.
Avnet expects to close the transaction within 30 days and said it will immediately increase its earnings, supporting its return on capital goal of 12.5 percent.
Upon completion, USI Electronics will be integrated into Avnet’s electronics marketing business in the Americas region.
“USI is a respected leader and established player in the space with a strong emphasis on providing business partners a best-in-class experience, ” said Ed Smith, Avnet’s president of electronic marketing for the Americas. “Their value proposition complements our strategy as we extend our leading position in serving the electronic component needs of this vital segment.”
USI Electronics has 58 employees at five offices in the U.S. and one in Denmark and generated $70 million in revenue for calendar year 2011, Avnet said.
