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Table of Contents
AVNET, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
2. Acquisitions and divestitures
Acquisitions
During fiscal 2012, 2011 and 2010, the Company acquired 22 businesses which are presented in the following table.
______________________
Acquisition activity
During fiscal 2012 , the Company acquired eleven businesses with aggregate annualized revenues of approximately $900 million
for an
aggregate purchase price of $411,873,000 , which includes $23,175,000 of contingent earn-
out obligations that were recorded at their estimated
fair values. The contingent earn-
out obligations have been accrued for, but not yet paid, and can be earned based on future performance of the
acquired businesses. The Company also acquired approximately $75,016,000
of cash associated with the acquisitions. As a result, the Company
paid a total of $313,218,000 for acquisition, net of cash acquired.
48
Acquired Business
Group & Region
Approximate
Annualized
Revenues (1)
(Millions)
Acquisition Date
Fiscal 2012
Ascendant Technology
TS Americas & TS
EMEA
$
86
April 2012
Nexicore Services
EM Americas
85
April 2012
Controlling interest in a non-wholly owned entity
EM Americas
62
January 2012
Pinnacle Data Systems
EM Americas
27
January 2012
Canvas Systems
TS Americas & TS
EMEA
118
January 2012
Unidux Electronics Limited (Singapore)
EM Asia/Pac
145
January 2012
Round 2 Tech
EM Americas
54
January 2012
DE2 SAS
EM EMEA
11
November 2011
JC Tally Trading Co. & Shanghai FR International Trading
EM Asia/Pac
99
August 2011
Prospect Technology
EM Asia/Pac
142
August 2011
Amosdec SAS
TS EMEA
83
July 2011
Fiscal 2011
itX Group Ltd.
TS Asia/Pac
$
160
January 2011
Center Cell
EM Americas
5
November 2010
Eurotone
EM Asia/Pac
30
October 2010
Broadband
EM Americas
8
October 2010
Unidux
EM Asia/Pac
370
July 2010
Tallard Technologies
TS Americas
250
July 2010
Bell Microproducts Inc.
EM & TS
Americas
3,021
July 2010
TS EMEA
Fiscal 2010
Servodata HP Division
TS EMEA
$
20
April 2010
PT Datamation
TS Asia/Pac
90
April 2010
Sunshine Joint Stock Company
TS Asia/Pac
30
November 2009
Vanda Group
TS Asia/Pac
30
October 2009
(1) Represents the approximate annual revenue from the acquired businesses’
most recent fiscal year end prior to acquisition by Avnet and
based upon average foreign currency exchange rates for those periods.