The Englewood, Colo.-based Arrow, which provides electronic products and services, will expand the company’s capabilities in electronics asset disposition (EAD) services with the purchase of Redemtech, the companies said in news releases.
The companies expect the deal to close in 60 days.
Columbus, Ohio-based Redemtech is a subsidiary of Micro Electronics Inc. Redemtech’s sales are expected to reach about $60 million this year, and the company employs approximately 400 in central Ohio; Reno, Nev.; and Richmond. Va.
"Arrow is investing to create a truly global EAD platform and we are excited to join that effort," said Redemtech president and founder Bob Houghton.
“The acquisition of Redemtech further strengthens our industry-leading position in the EAD market and strategically expands our footprint and capabilities in this fast-growing market,” said Paul J. Reilly, executive vice president, finance and operations, and chief financial officer of Arrow Electronics.