Wednesday February 11, 2015 0 comments
ENGLEWOOD - Arrow Electronics Inc. (NYSE: ARW) today announced it has signed a definitive agreement to acquire ATM Electronic Corp., a leading electronic component distributor based in Taiwan with substantial operations in China.
Arrow said the acquisition will bolster its embedded processor, power management and passive electromechanical and connector (PEMCO) product offerings in Asia.
"This acquisition brings Arrow an expanded presence in Asia while strengthening our relationship with key suppliers," said Michael J. Long, Arrow chairman, president and CEO.
"This transaction should enhance our market position in key high-growth verticals, including IoT, power and wireless."
Arrow did not disclose financial details of the acquisition.
Last month, Arrow announced the addition of CenturyLink Cloud to its cloud service portfolio and the ArrowSphere cloud marketplace that is available to solution providers, managed service providers and independent software vendors in the U.S. and Canada.
ArrowSphere enables providers to resell best-of-breed offerings from leading cloud vendors. The addition of CenturyLink, a global leader in hybrid cloud and IT infrastructure services, offers organizations that are transitioning to cloud with access to CenturyLink's IT-as-a Service solutions, pay-per-use pricing and cloud-based managed services, Arrow said.