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GREY:ISYRF - Post by User

Comment by Orillia7on Mar 22, 2018 7:51pm
76 Views
Post# 27766303

RE:RE:RE:RE:RE:New Insider Buying Filed

RE:RE:RE:RE:RE:New Insider Buying Filed

Global electronics component distributer Arrow Electronics has acquired product engineering and software services company eInfochips for a reported $284 million.

EInfochips has headquarters in both San Jose, California and Ahmedebad, India and was founded by Intel chip designer Pratul Shroff in 1994 to offer high-tech design services such as chip design. The value of its purchase by Arrow Electronics has not been officially disclosed, but India’s Economic Times reported it as being Rs 1,800 crore, or around $284 million. The deal is expected to close in late January.

Arrow’s decision to acquire eInfochips signals that IoT will continue to be a big focus for the company in 2018. In a statement, Michael Long, Arrow’s CEO, president and chairman, said that the purchase will advance the company’s IoT strategy, expand its offerings and help it move into what he called “a growing IoT services market.”

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