Arrow Seals $80M Distribution Biz Purchase
By Colleen Taylor -- EDN, December 29, 2006
Adding to its ever-growing distribution empire, Melville, New York-based electronic components supplier Arrow Electronics Inc. has completed its acquisition of the storage and security distribution business of InTechnology plc for a purchase price of approximately $80 million.
InTechnology Distribution, which is headquartered in Harrogate, England and has approximately 200 employees, delivers storage and security solutions to value-added resellers in the United Kingdom. According to Arrow, the company's total 2006 sales are expected to exceed $400 million.
"The acquisition of InTechnology's storage and security distribution business enables us to further expand our Enterprise Computing Solutions business into the United Kingdom, Europe's second largest IT market," M. Cathy Morris, Arrow Enterprise Computing Solutions' president, said in a statement. "We expect this transaction to create further opportunities for us in the growing storage and security software markets."
