Date Posted: 6/23/2010
Arrow Electronics acquires Sphinx Group in UK
Arrow Electronics acquires Sphinx Group in UK, expands presence in Europe
MELVILLE, N.Y. (AP) -- Arrow Electronics Inc. on Monday said it has acquired Sphinx Group Ltd., a British distributor of security and networking products.
Terms of the deal were not disclosed.
Sphinx, based in Nottingham, employs 100 workers and will join Arrow's enterprise computing solutions' European business.
Sphinx, which has more than 20 suppliers and over 1,000 resellers in the U.K, will expand Arrow's security and networking offerings in Europe. Arrow distributes electronic parts and computer products.
Last year, Sphinx booked sales of $82.5 million.
The acquisition is expected to bolster Arrow's earnings in the first full year of operations.
Shares of Arrow, based in Melville, rose by 38 cents to $26.13 in morning trading.
|
Email Page
|
Sponsor Message |
 |
|