Arrow Electronics, Inc. (NYSE: ARW), Englewood, CO, has agreed to acquire TechTurn, Ltd., Austin, TX, a provider of electronics asset disposition (EAD) services specializing in the processing and sale of technology devices that are returned or recycled from businesses and consumers.
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TechTurn has offices in Texas and Virginia, as well as partner facilities in Europe and Canada, providing EAD services to Fortune 500 customers, original equipment manufacturers, and large retailers.
\”This acquisition will strengthen our existing portfolio of services and is a continuation of our global strategy to expand into faster growing services that span the full lifecycle of technology and complement our core businesses,\” said Paul J. Reilly, executive vice president, finance and operations and CFO of Arrow Electronics.
TechTurn’s sales are expected to exceed $50 million in 2012.