Nu Horizons to Acquire DT Electronics
MELVILLE, N.Y., June 19, 2006 -- Nu Horizons Electronics Corp., a distributor of active semiconductor, display and system solutions, announced it will acquire DT Electronics, a United Kingdom-based electronic components distributor.
The transaction, the terms of which were not disclosed, is subject to customary closing conditions and has been approved by Nu Horizons' board of directors. It is expected to close by mid-August.
For its most recent fiscal year (ended March 31, 2006), DT Electronics reported unaudited revenues of approximately $25 million. The company was established in 1987 and is located in Coventry, England.
Arthur Nadata, chairman and CEO of Nu Horizons Electronics, said the acquisition will help his company establish its distribution business in the European market and that the company intends to "operate with one seamless global infrastructure and operating system."
For more information, visit: www.nuhorizons.com
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