Michael Long: Arrow Electronics Targets Govt IT Market Growth Through immixGroup Purchase

acquisitionArrow Electronics (NYSE: ARW) has agreed to buy McLean, Virginia-based government information technology services company immixGroup for an undisclosed amount.

The acquisition is scheduled to close in the second quarter of 2015 and Arrow Electronics expects the transaction to be accretive on earnings by up to 14 cents per share in the first full year after closing, Arrow Electronics said Monday.

“ImmixGroup shares our strategic focus on solution selling into the higher value segments of the data center and will bring us an expanded presence in the public sector market, ” said Michael Long, Arrow Electronics chairman, president and CEO.

Colorado-based Arrow Electronics offers value-added technology products and services to enterprise computing system and electronic component users.

The company also works with original equipment manufacturers, contractors and industrial companies through a global supply channel network.

Check Also

Adriane Brown

Axon Names Former Intellectual Ventures President Adriane Brown as Board Member

Adriane Brown, former president of Intellectual Ventures and a venture partner at Flying Fish Partners, has joined the board of directors of law enforcement technology provider Axon (Nasdaq: AAXN).

Nand Mulchandani

Nand Mulchandani Named Acting JAIC Director; Lt. Gen. Jack Shanahan Quoted

Nand Mulchandani, chief technology officer at the Department of Defense’s Joint Artificial Intelligence Center, has been appointed director of JAIC on an interim basis.