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Premier Farnell acquires Hynetic Electronics' assets

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CIOL Bureau
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BANGALORE, INDIA: Premier Farnell plc, a service distributor of essential products and services, has completed the acquisition of the assets and business carried on by Hynetic Electronics Private Limited, as authorised distributor of Farnell products in India.

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The company, now a fully owned subsidiary of Premier Farnell, will be known as Farnell Electronics India Private Limited.

Headquartered in Bangalore, Farnell Electronics India’s operations will be spread across seven other major Indian cities: New Delhi, Mumbai, Pune, Ahmedabad, Chennai, Hyderabad and Coimbatore.

Ravi Pagar has been appointed director – India to drive the strategic development of Farnell’s business in India.

The acquisition allows Farnell to consolidate its presence in India and engage more closely with its key customers, the rapidly growing segment of electronic design engineers (EDE), through a focus on the Web and Knowledge Centres.

The company plans to increase its headcount from 31 to 75 by end-2008 across various functions.

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