Premier Farnell completes acquisition of Hynetic

Chennai, Feb 4 (UNI) Premier Farnell, a leading multi-channel and high service distributor of essential products and services to engineers and purchasing professionals globally, today announced that it had completed the acquisition of the assets and business carried on by Hynetic Electronics Private Limited as authorised distributor of Farnell products in India.

A company release here said Hynetic, now a fully-owned subsidiary of Premier Farnell, would be known as Farnell Electronics India Private Limited.

Farnell Electronics India's operations would be spread across seven other major electronic cities-- New Delhi, Mumbai, Pune, Ahmedabad, Chennai, Hyderabad, and Coimbatore.

The acquisition allowed 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 planned to increase its headcount from 31 to 75 by the end of 2008 across field sales, marketing, customer support and contact centre functions, the release added.

UNI SNR SJ 1728