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Synnex Buying Gaming Distributor

12/22/2009 09:24:04 AM Eastern
Fremont, Calif. - Synnex, parent of CE distributor New Age Electronics, has entered into a definitive agreement to acquire the North American assets of Jack of All Games, a $282 million video game distributor based in West Chester, Ohio.

Synnex said the $43.3 million cash deal will provide it with an established distribution footprint in the $20 billion video game hardware and software segment. Following the acquisition, from parent Take-Two Interactive Software, Synnex will retain the distribution rights for game consoles, video games, PC software and accessories from leading video game manufacturers and publishers including Activision Blizzard, Electronic Arts, Microsoft, Nintendo and Sony, as well as Take-Two.

"Jack of All Games is a well-respected leader in this space," said Synnex president/CEO Kevin Murai. "We are excited about the growth opportunities this acquisition brings, and the value we will create for our customers and vendors as we capture synergies with our core distribution business, particularly through our 2008 acquisition of New Age Electronics."

The transaction is expected to close in the March 2010.
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