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Electronics Production | July 07, 2008

Arrow completes acquisition of components distribution business of Achieva

Arrow Electronics has completed its previously announced acquisition of the components distribution business from Achieva, a value-added electronic components distributor in Asia Pacific.
Arrow anticipates the transaction will be immediately accretive to earnings in the first twelve months by $.01 to $.03 per share and will meet the company's acquisition objectives for return on invested capital.

"With this acquisition, we have gained an experienced management team and strengthened our position in the ASEAN (Association of Southeast Asian Nations) and greater China regions. The company's technical focus will enhance our existing demand creation abilities and position Arrow for continued profitable, above-market growth in the Asia Pacific region," said William E. Mitchell, chairman and chief executive officer of Arrow Electronics.

Achieva's product range covers semiconductor components such as application specific integrated circuits, programmable logic devices, digital signal processing chips and microchip-controller units. With over 200 employees, the company has a presence in eight countries (Singapore, Taiwan, China, India, Malaysia, Philippines, Thailand, and Korea) and primarily serves small and medium sized customers in the data communications, telecommunications, lighting, industrial and digital consumer end markets. Total 2007 sales were approximately $210 million.
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December 13 2018 1:08 pm V11.10.14-2