Arrow Electronics Inc. (NYSE: ARW), Englewood, CO, through its wholly owned subsidiary in Munich, Germany, Arrow CEHM, is initiating an all-cash tender offer to acquire Data Modul AG for €94 million (US$106.2 million).
“This acquisition expands and strengthens our visual solutions capabilities and will broaden both our offerings and our geographic reach in this important market," said Michael J. Long, president and CEO of Arrow. "We are excited to welcome the Data Modul team to Arrow."
Data Modul, which has operations in Europe, Middle East, Asia and North America, estimates its 2014 sales to be €160 million (US$180.7 million).