Premier Farnell acquires Hynetic Electronics' assets

BANGALORE, INDIA: Premier Farnell plc (Premier Farnell), the leading multi-channel, high service distributor of essential products and services to millions of engineers and purchasing professionals globally, announced that it has completed the acquisition of the assets and business carried on by Hynetic Electronics Private Limited as authorised distributor of Farnell products in India.

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 electronics cities – New Delhi, Mumbai, Pune, Ahmedabad, Chennai, Hyderabad, and Coimbatore. Ravi Pagar, who has several years of rich experience in the Indian electronics components market, 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 the end of 2008 across field sales, marketing, customer support and contact centre functions.

Commenting on the acquisition and launch of operations, Harriet Green, Premier Farnell’s CEO said, “Our India investment reflects our recognition of the country’s growing importance as an electronic design hub. Our local operations will offer a potent combination of regional knowledge and relationships, and the powerful Farnell brand and product range. This represents a significant milestone in our journey to evolve Premier Farnell as an international brand.”

“The initial customer response has been tremendous and endorses our belief in the huge potential India presents. Our deep collaboration with Hynetic has resulted in a strong foundation that will be valuable going forward. Our team of well-trained professionals will focus on driving our business by serving the unique needs of our customers with locally tailored products and services,” added Ravi Pagar, director – India, Farnell Electronics India Private Limited.