Arrow Electronics buys Taiwan distributor to boost IoT penetration
February 18, 2015
Colorado-based Arrow Electronics has signed a definitive agreement to acquire ATM Electronic, an electronic component distributor based in Taiwan with large operations in China. ATM Electronic should bolster Arrow’s embedded processor, power management, and passive, electromechanical and connector product offerings in Asia.
“This acquisition brings Arrow an expanded presence in Asia while strengthening our relationship with key suppliers,” said Michael 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.”
Founded in 1996, ATM Electronic is headquartered in Taipei, Taiwan, and has approximately 280 employees. The company’s sales for the latest fiscal year were approximately $500m. The acquisition is subject to regulatory approval and is expected to close during the second quarter.
Arrow Electronics is a global provider of products and services to industrial and commercial users of electronic components and enterprise computing. It 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.