Synnex/New Age Merger Completed
Synnex Corp. announced Monday that its purchase of rival distributor New Age Electronics has been completed. Synnex ended up paying $31.5 million in cash at closing, as well as $22.75 million in “additional deferred and earn-out payments.”
When the companies agreed on the merger in February, it was for about $54 million in cash.
New Age will now become a division of Synnex. Adam Carroll will remain president, and will report to Synnex’s president of U.S. distribution, Peter Larocque.