HONG KONG — 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 countries.