CENTENNIAL, Colo.--(BUSINESS WIRE)--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.
