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Press release from Business Wire

Arrow Electronics Announces Completion of Acquisition of Nu Horizons Electronics

Monday, January 03, 2011

Arrow Electronics Announces Completion of Acquisition of Nu Horizons Electronics08:49 EST Monday, January 03, 2011 MELVILLE, N.Y. (Business Wire) -- Arrow Electronics, Inc. (NYSE:ARW) announced today the successful completion of the acquisition of Nu Horizons Electronics (“Nu Horizons”) in an all cash transaction for $7.00 per share. Nu Horizons is a leading global distributor of advanced technology semiconductor, display, illumination, and power solutions to a wide variety of commercial original equipment manufacturers (OEMs) and electronic manufacturing services providers (EMS). “We are excited to welcome the Nu Horizons team to the Arrow family. This strategic transaction will enhance our design capabilities in the fast-growing Asia-Pacific region, as well as complement our leading technology portfolio in the Americas and Europe,” said Michael J. Long, chairman, president, and chief executive officer of Arrow Electronics, Inc. Nu Horizons is headquartered in Melville, N.Y., and has approximately 650 employees. Total sales were $671 million for the fiscal year ended February 28, 2010. The transaction is expected to be $.05-$.10 per share accretive to earnings in the first full year of operations. 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. Headquartered in Melville, N.Y., Arrow serves as a supply channel partner for over 900 suppliers and 125,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 310 locations in 51 countries and territories. Safe Harbor The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release includes forward-looking statements, including statements addressing future financial results. These statements are subject to a number of risks and uncertainties that could cause actual results or facts to differ materially from such statements for a variety of reasons including, but not limited to: industry conditions, the company's implementation of its new global financial system and the company's planned implementation of its new enterprise resource planning system, changes in product supply, pricing and customer demand, competition, other vagaries in the global components and global ECS markets, changes in relationships with key suppliers, increased profit margin pressure, the effects of additional actions taken to become more efficient or lower costs, the company's ability to generate additional cash flow and the other risks described from time to time in the company's reports to the Securities and Exchange Commission (including the company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q). Forward-looking statements are those statements, which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as "expects," "anticipates," "intends," "plans," "may," "will," "believes," "seeks," "estimates," and similar expressions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements. Arrow Electronics, Inc.Michael Taunton, 631-847-5680Vice President & TreasurerorPaul J. Reilly, 631-847-1872Executive Vice President, Finance and Operations & Chief Financial OfficerorMediaJohn Hourigan, 303-824-4586Director, Corporate Communications