Arrow Makes European Move
Arrow Electronics is acquiring French distributor Logix SA in a move to expand its overseas reseller base and Pan-European channel reach
Distributor giant Arrow Electronics is expanding its European operation with the acquisition of French distributor Logix SA, which handles server, storage and software products in 11 European countries. Terms of the agreement were not disclosed.
Logix reported annual revenue of $742 million and has more than 6,500 partners. Arrow reported revenue of nearly $16 billion last year and has 140,000 partners, including OEM manufacturers.
Logix is a natural complement to our existing Enterprise Computing Solutions business," said William Mitchell, Arrow chairman and CEO, in a prepared statement. He added the deal "will expand our pan-European footprint and almost double our line card, as well as strengthen existing relationships with key suppliers. We will gain an experienced management team and 350 highly talented sales, marketing and design professionals, while Logix will obtain access to increased financial and technical resources, and a more comprehensive suite of solutions for its reseller partners."
Arrow expects the deal to add between 2 and 4 cents per share to earnings during the first year. The company reported $408 million in earnings in 2007.