Arrow Electronics Buy eInfochips
Arrow Electronics has successfully acquired eInfochips, a product engineering and software services company, which has headquarters in San Jose and Ahmedabad, India.
The Centennial-based global distributor of electronics components and computer systems didn’t disclose the purchase price, but inside reports states that the acquisition deal was settled for Rs 1,800 crore, or $281,790,000.
“Upon close of this acquisition, eInfochips advances our IoT strategy, expands our offerings, and moves us into the rapidly growing IoT services market. As a result, we will deliver complex and connected IoT solutions and technologies across multiple cloud platforms,” says Arrow CEO Michael Long, “this acquisition adds over 1,500 IoT solution architects, engineers, and software development resources to Arrow’s already leading position in IoT design services.”
“Arrow has redefined design engineering with our industry-leading eDesign digital platform. Customers now collaborate on Arrow.com with hundreds of online-enabled engineers. Our engineers help customers with online reference designs, cloud-based design tools, and our eDesign platform,” says Matt Anderson, chief digital officer of Arrow, “connecting eInfochips’ IoT capabilities and engineers to our eDesign platform will substantially augment the scale of eInfochips’ services, delivered via digital tools, to Arrow’s 125,000 customers.”