COLUMBUS, Ohio, Aug. 29, 2012 /PRNewswire/ -- Redemtech announced today that it will be acquired by Arrow Electronics (NYSE: ARW). Redemtech is a wholly owned subsidiary of Micro Electronics, Inc. and a leading provider of electronics asset disposition services such as data erasure, refurbishing and responsible electronics recycling. The company has been positioned by Gartner, Inc. in the Leaders Quadrant in the 2011 Magic Quadrant for North America IT Asset Disposition, the first revision of Gartner's initial (2010) coverage of this industry segment. Redemtech has also been recognized by Microsoft as the top-selling Microsoft Authorized Refurbisher in North America.
"Arrow is investing to create a truly global EAD platform and we are excited to join that effort," said Redemtech President and Founder Bob Houghton. The acquisition is expected to close in the next 60 days pending customary regulatory approvals.
Redemtech employs more than 400 people in central Ohio, Reno, Nev., and Richmond, Va. The company serves many large enterprise clients, original equipment manufacturers and government. Redemtech is noted as a vocal proponent for responsible electronics recycling (e-waste), and is well known for its Serious Good® initiative to close the digital divide. Redemtech is the exclusive GoodPC SM refurbished hardware provider for the Federal Communications Commission-sponsored Connect2Compete initiative which is targeting 7 million American families for discounted high-speed Internet, low-cost computers and free digital literacy training over the next three years.
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.About RedemtechRedemtech partners with customers to optimize IT asset value securely and sustainably. Its Enterprise IT Asset Disposition solution helps Global 1000 companies responsibly retire surplus electronics. Its wide array of Lifecycle Services include the Serious Good® donation program, and a hardware remarketing solution backed by Redemtech's status as North America's top-selling Microsoft Authorized Refurbisher. For more information on Redemtech visit www.redemtech.com. SOURCE Redemtech
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV