Centennial, CO-based electrical distributor Arrow Electronics announced Wednesday that it has agreed to acquire ATM Electronic Corp., an electronic component distributor based in Taiwan with substantial operations in China. ATM Electronic Corp. Arrow says the addition will bolster its embedded processor, power management, and passive, electromechanical, and connector (PEMCO) product offerings in Asia.
“This acquisition brings Arrow an expanded presence in Asia while strengthening our relationship with key suppliers,” said Michael J. Long, chairman, president, and chief executive officer of Arrow. “This transaction should enhance our market position in key high-growth verticals, including IoT, power, and wireless.”
ATM Electronic Corp. is headquartered in Taipei, Taiwan, and has approximately 280 employees. The company’s sales for the latest fiscal year were approximately $500 million. The acquisition is expected to close during the second quarter.
