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Arrow Electronics, Inc. (NYSE:ARW), Melville, NY, has agreed to acquire Shared Technologies Inc., Coppell, TX.
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Shared sells, installs, and maintains communications solutions, including unified communications, voice and data technologies, contact center, network security, and traditional telephony. The company's products and services reach a number of end markets including corporate, government and health care. Shared will report through Arrow's Enterprise Computing Solutions' North American business.
"This acquisition builds on our strategy to diversify into faster growing, high-margin markets that are complementary to our existing businesses," said Andy Bryant, president of Arrow ECS. "Shared represents an exciting opportunity as we add a leading player in the unified communications, telephony, and managed services industries to our product portfolio. They bring deep customer and supplier relationships as well as extensive industry and technical expertise."
Shared has approximately 1,000 employees. Total sales in 2009 were approximately $250 million.
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.