Arrow Electronics, Inc. (NYSE: ARW), Melville, NY, has acquired Sphinx Group Limited, a United Kingdom-based distributor of security and networking solutions.
Sphinx is based in Nottingham and has 100 employees. The company will report through Arrow’s Enterprise Computing Solutions’ European business.
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\”This acquisition builds on our strategy to increase security and networking capabilities and expands our presence in Europe,\” said Andy Bryant, president of Arrow ECS. \”Sphinx further strengthens our relationships with leading suppliers through increased market share, the addition of new lines, and a high-performance, technically strong sales team.\”
Sphinx’s total sales in 2009 were approximately $82.5 million. The acquisition is expected to be accretive to earnings in the first full year of operations.
Arrow Electronics is a global provider of products and services to industrial and commercial users of electronic components and enterprise computing solutions.