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Arrow Electronics to Acquire SKYDATA Corporation
MELVILLE, N.Y. —
(BUSINESS WIRE)--Feb. 15, 2006--Arrow Electronics, Inc. (NYSE:ARW - News) announced that it has signed a definitive agreement pursuant to which Arrow will acquire SKYDATA, a leading value-added distributor of data storage solutions based in Mississauga, Canada.
"We are pleased to be joining with such a well-respected organization as SKYDATA. Recognized for the value-add it provides, SKYDATA represents a significant expansion of our EMC business in North America and extends Arrow's ability to help VARs sell, implement and support industry-leading storage solutions," stated J. Edward Coleman, President of Arrow Enterprise Computing Solutions.
SKYDATA maintains sales offices in Mississauga, Ottawa, Calgary and Laval, Quebec and is the largest distributor of EMC product in Canada. Total 2005 sales were approximately CDN$50 million (US$43 million).
"We are extremely excited to become part of the Arrow family. This transaction will enable SKYDATA to further strengthen its position in value-added distribution in Canada," stated Howard Goldberg, President and Chief Executive Officer of SKYDATA.
The transaction is subject to customary closing conditions and is expected to be completed during the current fiscal quarter.
Arrow Electronics is a major global provider of products, services and solutions to industrial and commercial users of electronic components and computer products. Headquartered in Melville, N.Y., Arrow serves as a supply channel partner for nearly 600 suppliers and 150,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 200 locations in 53 countries and territories.
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