Arrow Electronics Signs Definitive Agreement to Acquire immixGroup, Inc.
March 02 2015 - 8:00AM
Business Wire
-- Expands Enterprise Computing Solutions’
Public Sector IT Market Presence --
Arrow Electronics, Inc. (NYSE:ARW) announced today that it has
signed a definitive agreement to acquire immixGroup, Inc., a
value-added distributor supporting over 800 value-added resellers,
solution providers, service providers, and other public sector
channel partners with specialized resources to accelerate their
government sales.
“immixGroup shares our strategic focus on solution selling into
the higher value segments of the data center and will bring us an
expanded presence in the public sector market,” said Michael J.
Long, chairman, president, and chief executive officer of
Arrow.
Headquartered in McLean, Va., immixGroup, Inc. has a
comprehensive offering of IT solutions from over 250 of the world’s
leading technology suppliers in addition to a platform of services
that helps IT companies do business with the government in the
channel. This acquisition is expected to be $.10 to $.14 accretive
to earnings per share, excluding the impact of the amortization of
related intangible assets, in the first year post closing. The
acquisition is subject to regulatory approvals and is expected to
close at the beginning of the second quarter of 2015.
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.
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 that are subject to numerous
assumptions, 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 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,
risks related to the integration of acquired businesses, changes
change in legal and regulatory matters, 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. 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.
Arrow Electronics, Inc.Steven O’BrienDirector, Investor
Relations303-824-4544orPaul J. ReillyExecutive Vice President,
Finance and Operations, &Chief Financial
Officer631-847-1872orMedia Contact: John HouriganVice President,
Global Communications303-824-4586
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