Distribution giant Arrow Electronics has entered into exclusive negotiations to buy 100 per cent of the shares of rival European distributor Logix.
Logix, a mid-range storage, server and software distributor and a subsidiary
of Groupe Open, has annual turnover of approximately 500 million Euros and is
headquartered in Courbevoie, France. It also has operations in Belgium,
Luxembourg, Morocco, Poland, the Netherlands, Israel, Denmark, Finland, Sweden
The deal is subject to consultation with the Logix works council and also is subject to EU competition clearance.
William Mitchell, chief executive of Arrow said: “With this acquisition, we continue the transformation of our ECS business. Two years ago we entered the European marketplace and this transaction represents the next step in our strategic expansion in this important region.
“With its experienced management team and highly talented sales, marketing and design professionals, Logix is well positioned to take advantage of the increasing demand for virtualisation and infrastructure solutions. Logix' portfolio of suppliers and focus on the fast growing mid-market will enable Arrow to strengthen relationships with key suppliers and increase our value proposition in the European marketplace.”
Laurent Sadoun, chairman and chief executive officer of Logix, said: “I am pleased to join Arrow Electronics in further accelerating its European transformation. The transaction will allow all employees, clients, and suppliers of Logix to benefit from greater scale and the efficiency of a leading worldwide player.”
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