Wednesday, April 2, 2008

SYNNEX Completes New Age Electronics Buy

Fremont-based SYNNEX Corporation said Tuesday afternoon that it has completed its acquisition of New Age Electronics, a distributor of IT and consumer electronics products. According to SYNNEX, it paid $31.5M in cash for New Age Electronics, with an additional $22.75M in earn out to be paid within the first 15 months after close of the acquisition. SYNNEX said the move will greatly expand its consumer electronics offerings. New Age will become a division of SYNNEX.