ARROW ELECTRONICS (NYSE:ARW)
Historical Stock Chart
2 Years : From Jun 2011 to Jun 2013
Arrow Electronics, Inc. (NYSE:ARW) announced today that the company has
signed a definitive agreement to acquire the ALTIMATE Group
(“ALTIMATE”), a subsidiary of DCC plc. ALTIMATE is a European
value-added distributor of enterprise and midrange computing products,
services, and solutions.
ALTIMATE offers a comprehensive portfolio of hardware, storage, data
management, security, and infrastructure solutions and services. The
company operates in eight countries across Europe including France,
Benelux, Iberia, and the United Kingdom and has a network of
approximately 2,500 value-added resellers and system integrators.
“We are excited about the opportunities ALTIMATE brings to Arrow. This
acquisition complements our existing portfolio of value-added services
and enterprise solution offerings while further strengthening our
relationships with critical suppliers throughout the EMEA region,” said
Andrew S. Bryant, president, Arrow global enterprise computing solutions.
Headquartered in Vélizy-Villacoublay, France, ALTIMATE has approximately
250 employees. The company’s sales for the fiscal year ended March 31,
2011 were $298 million. The acquisition is subject to regulatory
approval and is expected to close in the next 90 days.
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
120,000 original equipment manufacturers, contract manufacturers and
commercial customers through a global network of more than 390 locations
in 52 countries.
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.