CENTENNIAL, Colo.--(BUSINESS WIRE)--Arrow Electronics, Inc. (NYSE:ARW) announced today that it has signed a definitive agreement to acquire ATM Electronic Corp., a leading electronic component distributor based in Taiwan with substantial operations in China. ATM Electronic Corp. will bolster Arrow’s 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, chairman, president, and chief executive officer of Arrow. “This transaction should enhance our market position in key high-growth verticals, including IoT, power, and wireless.”
ATM Electronic Corp. is headquartered in Taipei, Taiwan, and has approximately 280 employees. The company’s sales for the latest fiscal year were approximately $500 million. The acquisition is subject to regulatory approval and is expected to close during the second quarter.
Arrow Electronics (www.arrow.com) is a global provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 100,000 original equipment manufacturers, contract manufacturers, and commercial customers through a global network of more than 460 locations in 56 countries.
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