Agilysys Shareholders Approve Acquisition of KeyLink Systems Group by Arrow Electronics
Arrow Electronics Receives Hart-Scott-Rodino Clearance
MELVILLE, N.Y., March 13 -- Arrow Electronics, Inc. (NYSE:ARW) announced today that the shareholders of Agilysys, Inc. have approved the proposed sale of the KeyLink Systems Group to Arrow for $485 million in cash. The company also announced they have received clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
"With the approval by the Agilysys shareholders and Hart-Scott-Rodino clearance, we remain on schedule to close this transaction at the end of the current quarter. We are excited about the significant cross-selling opportunities this partnership will bring to further accelerate our growth in the global enterprise computing solutions distribution market. We will become the leading distributor of enterprise products for both International Business Machines Corporation and Hewlett-Packard Company, as well as a leading value- added distributor of storage and software," stated William E. Mitchell, chairman, president and chief executive officer of Arrow Electronics, Inc.
Arrow Electronics (www.arrow.com) is a global provider of products, services and solutions to industrial and commercial users of electronic components and computer products. Headquartered in Melville, New York, Arrow serves as a supply channel partner for more than 600 suppliers and 140,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of 260 locations in 55 countries and territories.
Source: Arrow Electronics, Inc.
CONTACT:
Ira M. Birns,
Vice President & Treasurer,
+1-631-847-1657
Paul J. Reilly,
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+1-631-847-1872
Media
Jacqueline F. Strayer,
Vice President, Corporate Communications
+1-631-847-2101
Web site: www.arrow.com/
