Arrow Electronics up 6% After Acquiring TechTurn
The shares of Arrow Electronics (NYSE: ARW) are trading higher on the session following the announcement that it is acquiring TechTurn, a provider of electronics asset disposition services. TechTurn's sales are expected to exceed $50 million in 2012.
Paul J. Reilly, executive vice president of Arrow Electronics said: “We are very excited to have the TechTurn team join the Arrow family. 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.”
Arrow Electronics is currently trading at $40.18, a gain of $2.33 or 6.16%.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.