The chairman of the board of US based Avnet Incorporated, Roy Vallee has approved funds for the negotiation of the acquisition of Australia's largest Digital systems integrator, Integrand Solutions. (See ARN, July 29 1998, page 1.)Avnet's Australian country manager, Ian Ramsay, confirmed to ARN that it is Avnet's intention to make a 100 per cent acquisition of the privately-owned Integrand, and that a London-based acquisition consultant is expected to arrive in Australia this week to secure the deal.
Ramsay said he expects it to be a cash purchase, and stressed that it would mean growth of the combined local operations, with no loss of jobs. "This will take our reseller arm, Avnet Computer from a $15 million to a more than $50 million organisation," he said.
"Plans are already under way for the accommodation of the staff of a much bigger business," he added.
It's been a busy time for Ramsay. Last week, he was hosting Avnet Computer Marketing Group senior vice president, Peter Montana, in Australia for the launch of its newest distribution subsidiary, Hall-Mark Computer Products.
Ramsay said that he expects the deal to be concluded "within the next few weeks".
Meanwhile, Integrand's founder and owner, David Hayman, said negotiations are progressing with Avnet, but that no decision has been made. While he is still considering four options, Hayman said it was inappropriate to comment any further.