Arrow Electronics, Inc. (NYSE:ARW) announced today that it has signed a
definitive agreement to acquire ATM Electronic Corp., a leading
electronic component distributor based in Taiwan with substantial
operations in China. ATM Electronic Corp. will bolster Arrow’s embedded
processor, power management, and passive, electromechanical, and
connector (PEMCO) product offerings in Asia.
“This acquisition brings Arrow an expanded presence in Asia while
strengthening our relationship with key suppliers,” said Michael J.
Long, chairman, president, and chief executive officer of Arrow. “This
transaction should enhance our market position in key high-growth
verticals, including IoT, power, and wireless.”
ATM Electronic Corp. is headquartered in Taipei, Taiwan, and has
approximately 280 employees. The company’s sales for the latest fiscal
year were approximately $500 million. The acquisition is subject to
regulatory approval and is expected to close during the second quarter.
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 and
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 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, 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. 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.
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