rrow Electronics, Inc. (NYSE:ARW) announced today that it has signed a definitive agreement to acquire eInfochips, one of the world’s largest design and managed services companies.
eInfochips works with global Fortune 1000 companies at every phase of technology deployment, including developing custom hardware and software and new IoT-based business models.
eInfochips will expand Arrow’s IoT “sensor-to-sunset” platform by adding engineering, solution architecture, embedded software development, security, mobile device connectivity, app development, cloud configuration and management, and managed services including big-data analytics.
“Upon close of this acquisition, eInfochips advances our IoT strategy, expands our offerings, and moves us into the rapidly growing IoT services market. As a result, we will deliver complex and connected IoT solutions and technologies across multiple cloud platforms,” said Michael J. Long, chairman, president, and chief executive officer of Arrow. “This acquisition adds over 1,500 IoT solution architects, engineers, and software development resources to Arrow’s already leading position in IoT design services.”
“Arrow has redefined design engineering with our industry-leading eDesign digital platform. Customers now collaborate on Arrow.com with hundreds of online-enabled engineers. Our engineers help customers with online reference designs, cloud-based design tools, and our eDesign platform,” said Matt Anderson, chief digital officer of Arrow. “Connecting eInfochips’ IoT capabilities and engineers to our eDesign platform will substantially augment the scale of eInfochips’ services, delivered via digital tools, to Arrow’s 125,000 customers.”
eInfochips is headquartered in San Jose, Calif., with locations in India and Europe, and 1,500 employees globally. eInfochips’ breadth of capabilities spans chip design, to product and IoT solution delivery, and across many industries, from retail and consumer, to industrial automation, healthcare, and aerospace.
The transaction is expected to close this month.
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 125,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 465 locations in 90 countries.
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, 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: our ability to expand our capabilities and offerings; our ability to deliver more and enhanced solutions; our ability to retain eInfochips’ employees; our ability to maintain and grow eInfochips’ sales and profits; 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. 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.
Arrow Electronics, Inc.
Steven O’Brien, 303-824-4544
Vice President, Investor Relations
John Hourigan, 303-824-4586
Vice President, Global Communications