Electronics Production | October 04, 2010
Arrow acquires RFPD division of Richardson Electronics
Arrow Electronics has signed a definitive agreement pursuant to acquire all of the assets and operations of the RF, Wireless and Power Division of Richardson Electronics, Ltd.
"This acquisition brings Arrow a global presence in the wireless and power conversion markets with specialized expertise in RF engineering and a highly talented team of sales professionals. With the addition of this acquisition, we will increase our footprint in the Asia-Pacific market where growth has been very robust," said Michael J. Long, chairman, president, and chief executive officer of Arrow Electronics. Richardson RFPD will become a separate operating unit of Arrow Electronics and its headquarters will remain in LaFox, IL. Richardson RFPD has approximately 400 employees and total sales were in excess of USD 350 million for the fiscal year ended May 29, 2010. The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of Richardson Electronics' shareholders as well as customary regulatory approvals. The transaction is expected to close in early 2011.