November 15, 2016

Avnet acquires majority stake in Hackster

The deal is Avnet’s first step of a two-part transaction for the acquisition of Hackster

This week, global technology distributor Avnet announced that it has acquired a majority stake in Hackster. The company says that this move is its first step towards a two-part transaction in which Avnet will acquire the remainder of Hackster in January 2017.

Hackster, headquartered in San Francisco, is an online community that helps users learn how to design, create and Internet-connected hardware. The company says that it engages with about 90 technology partners, and maintains 100 Hackster Live ambassadors that support a network consisting of about 200,000 engineers, makers and hobbyists.

William Amelio, Chief Executive Officer of Avnet :

We are fully committed to helping start-ups bring their ideas to market. The addition of Hackster’s online platform will enable users to accelerate their hardware knowledge and time-to-market.

The combination of Hackster with Avnet’s recently launched MakerSource resource directory and acquisition of Premier Farnell’s element 14 community will allow start-ups to design and create new ideas, then quickly find the resources to support them as they prepare to take their product to market.

 

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