Arrow Electronics Acquires Two Asia Pacific Distributors

-- Expands Line Card and Enhances Demand-Creation Capabilities --

MELVILLE, N.Y.--(BUSINESS WIRE)--Arrow Electronics Inc., (NYSE:ARW - News) announced it has entered into agreements to acquire Excel Tech, Inc. (“Excel Tech”) and Eteq Components Pte Ltd (“Eteq”). Excel Tech is the sole Broadcom distributor in Korea with strong demand-creation capabilities while Eteq has Broadcom-based franchise agreements in the ASEAN region and China with strong relationships and ties to the ASEAN EMS industry.

“With these acquisitions, we continue to execute on our strategic priority to pursue opportunities in the more rapidly growing areas of the market. The addition of Excel Tech and Eteq to our Asia Pacific business will greatly expand and strengthen our relationship with Broadcom, one of the leading global semiconductor suppliers as we become their pan-Asian distributor,” said Michael J. Long, president and chief operating officer of Arrow Electronics, Inc.

“These acquisitions will enhance our existing demand-creation capabilities in the high-growth vertical segments as well as allow us to gain strategic customer relationships, which is critical for Arrow to further increase market share in the Asia Pacific region,” said Peter T. Kong, president of Arrow Asia Pacific.

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. Headquartered in Melville, N.Y., Arrow serves as a supply channel partner for approximately 700 suppliers and approximately 140,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 300 locations in 50 countries and territories.

Safe Harbor

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release includes forward-looking statements, including statements addressing future financial results. These statements are subject to a number of risks and uncertainties that could cause actual results or facts to differ materially from such statements for a variety of reasons including, but not limited to: industry conditions, the company’s implementation of its new global financial system and the company’s planned implementation of its new enterprise resource planning system, changes in product supply, pricing and customer demand, competition, other vagaries in the global components and global ECS markets, changes in relationships with key suppliers, increased profit margin pressure, the effects of additional actions taken to become more efficient or lower costs, the company’s ability to generate additional cash flow and the other risks described from time to time in the company’s reports to the Securities and Exchange Commission (including the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q). Forward-looking statements are those statements, which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as "expects," "anticipates," "intends," "plans," "may," "will," "believes," "seeks," "estimates," and similar expressions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements.

Printer Friendly

Email Page

Sponsor Message