Arrow Electronics, Inc. (NYSE:ARW) announced today that the company has agreed to acquire Redemtech, Inc. (“Redemtech”), a wholly owned subsidiary of Micro Electronics, Inc. Redemtech is a provider of electronics asset disposition (EAD) services.
Redemtech offers a comprehensive array of EAD services including data removal, data security, refurbishment, and remarketing of electronic assets, while ensuring compliance with local and national data security and environmental regulations. Redemtech has locations across the United States and the company’s customers span a variety of end markets including financial services, consumer, and government.
“The acquisition of Redemtech further strengthens our industry-leading position in the EAD market and strategically expands our footprint and capabilities in this fast-growing market. We are excited to welcome the Redemtech team to the Arrow family,” said Paul J. Reilly, executive vice president, finance and operations, and chief financial officer of Arrow Electronics.
Headquartered in Columbus, Ohio, Redemtech has approximately 400 employees. Sales in 2012 are expected to total approximately $60 million. This acquisition is subject to the receipt of customary regulatory approvals and is expected to close in the next 60 days.
Arrow Electronics (
) 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.
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