Arrow Electronics Acquires Two Asia Pacific Distributors
Expands Line Card and Enhances Demand-Creation Capabilities
MELVILLE, N.Y., Nov 11, 2008 - Arrow Electronics Inc., (NYSE:ARW) announced it has entered into agreements to acquire Excel Tech, Inc. ("Excel Tech") and Eteq Components Pte Ltd ("Eteq"). Excel Tech is the sole Broadcom distributor in Korea with strong demand-creation capabilities while Eteq has Broadcom-based franchise agreements in the ASEAN region and China with strong relationships and ties to the ASEAN EMS industry.
"With these acquisitions, we continue to execute on our strategic priority to pursue opportunities in the more rapidly growing areas of the market. The addition of Excel Tech and Eteq to our Asia Pacific business will greatly expand and strengthen our relationship with Broadcom, one of the leading global semiconductor suppliers as we become their pan-Asian distributor," said Michael J. Long, president and chief operating officer of Arrow Electronics, Inc.
"These acquisitions will enhance our existing demand-creation capabilities in the high-growth vertical segments as well as allow us to gain strategic customer relationships, which is critical for Arrow to further increase market share in the Asia Pacific region," said Peter T. Kong, president of Arrow Asia Pacific.
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. Headquartered in Melville, N.Y., Arrow serves as a supply channel partner for approximately 700 suppliers and approximately 140,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 300 locations in 50 countries and territories.
SOURCE: Arrow Electronics Inc.
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