Arrow Electronics closes deal to buy Computerlinks
ENGLEWOOD, Colo. (AP) — Arrow Electronics Inc. said Monday that it has completed its $317 million acquisition of German company Computerlinks.
The Englewood, Colo.-based electronics maker originally announced the deal in August.
Computerlinks, which is based in Munich, provides IT security and Internet technology solutions and other services. It does business in Asia, Europe, the Middle East and North America.
"The acquisition of Computerlinks supports our strategy to serve the data center of the future and strengthens our position in this rapidly growing segment," said Arrow's CEO Michael Long in a statement.
Computerlinks is expected to have sales of about $966 million this year, Arrow Electronics said.
The acquisition is expected to add earnings between 20 cents and 24 cents per share in the first year to Arrow Electronics.
Shares of Arrow Electronics rose 50 cents to $47.93 in afternoon trading Monday.