Melville, N.Y.
10 January 2008
Arrow Electronics Inc., (NYSE: ARW) today announced an agreement to acquire all of the assets related to the franchise components distribution business of Hynetic Electronics and Shreyanics Electronics in India, effective January 1, 2008. Privately owned, Hynetic Electronics and Shreyanics Electronics are leading electronic component distributors in India.
“I am delighted to add the components distribution business of Hynetic to our expanding franchise in the Asia Pac region, further strengthening our leadership position in the fast-growing Indian marketplace. The Hynetic business is similar to Arrow’s, with its demand-creation business model and strong engineering capabilities, and we anticipate meaningful synergies between our two businesses. Hynetic’s complementary linecard and experienced sales professionals will allow us to expand our product portfolio and offer improved services and support to our business partners,” said Michael J. Long, president of Arrow Global Components.
“This acquisition will be beneficial to Arrow, with an expanded customer base focusing on the rapidly growing small- and medium-sized market and additional strategic product lines, which are critical for Arrow to further expand market share in India. At the same time, Hynetic’s customers and suppliers gain instant access to Arrow's specialized expertise, technical resources, supply chain solutions and extensive logistics capabilities,” said Peter Kong, president of Arrow Asia Pacific.
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and computer products. Headquartered in Melville, New York, Arrow serves as a supply channel partner for more than 600 suppliers and 140,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of 260 locations in 55 countries and territories.
Source :
Arrow Electronics Inc.
