Arrow Electronics acquires IoT specialist eInfochips
Colorado-based Arrow Electronics has announced that it is acquiring global product engineering services firm eInfochips as part of its attempts to bolster its standing within the internet of things (IoT) sector.
“Upon close of this acquisition, eInfochips advances our IoT strategy, expands our offerings, and moves us into the rapidly growing IoT services market,” said Michael J. Long, chairman, president, and chief executive officer of Arrow. “As a result, we will deliver complex and connected IoT solutions and technologies across multiple cloud platforms.”
eInfochips is renowned for its work with a number of Fortune 1000 companies throughout the development and deployment of custom software and hardware, including new IoT-based business models.
Arrow will take advantage of eInfochips expertise in expanding its “sensor-to-sunset” IoT platform.
“Connecting eInfochips’ IoT capabilities and engineers to our eDesign platform will substantially augment the scale of eInfochips’ services, delivered via digital tools, to Arrow’s 125,000 customers,” said Matt Anderson, chief digital officer of Arrow.
The transaction, of which the fee is yet to be disclosed, is expected to complete before the month’s end.