Arrow Electronics Acquires the Wireless and Infrastructure Business Unit of
Waching Company Ltd
-- Increases Exposure to Fast-Growing Wireless and Infrastructure Market in
HONG KONG -- December 17, 2012
Arrow Electronics, Inc. (NYSE:ARW) announced today that the company has signed
a definitive agreement pursuant to which Arrow will acquire all of the assets
and operations of the wireless and infrastructure business unit of Waching
Company Ltd. (“Waching”).
Waching is a distributor in China with strong demand-creation capabilities and
a leading position in the fast-growing wireless and infrastructure market.
Waching has sales and engineering resources based in Shenzhen, Shanghai, and
Beijing. Sales in 2012 are expected to total approximately $33 million.
“With this acquisition, we continue to execute on our strategic priority to
pursue opportunities in the more rapidly growing areas of the market, and we
are excited to welcome the Waching team to the Arrow family,” said Peter T.
Kong, president Arrow global components.
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 120,000 original equipment manufacturers, contract manufacturers and
commercial customers through a global network of more than 390 locations in 53
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. This press release includes forward-looking
statements, including statements addressing future financial results. These
statements are subject to 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 global financial system and the company’s
planned 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, 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
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identified by forward-looking words such as "expects," "anticipates,"
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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.
Senior Manager, Investor Relations
Paul J. Reilly
Executive Vice President, Finance and Operations, and Chief Financial Officer
Director, Corporate Communications
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