Northvale, N.J.-based systems integrator A.F. Associates (AFA) has signed a Letter of Intent to buy the facilities and personnel associated with Sony Electronics’ Systems Integration Center (SIC), and equipment installation division.
No financial details were available as both parties are currently in the due diligence process, but AFA President Tom Canavan said he hopes to have the deal completed by the end of the year. Sony's integration service offerings in Europe and Asia are not part of the proposed agreement.
“What’s most interesting to us is the people, experience and relationships with customers that Sony has developed over the years,” Canavan said. Assets related to the deal include a design and construction facility in San Jose, Calif., which gives AFA the West Coast presence it was seeking.
Canavan said he is positive about the overall systems integration business outlook in North America and views the SIC acquisition deal as a good opportunity to expand his systems engineering and integration business.
AFA has worked with Sony’s SIC division on several projects in the past, and became interested in purchasing it while working on the construction of a new multi-level television broadcast center for CNN in New York City that will be complete in September 2004.
For more information visit www.afassoc.com.