Arrow Electronics (ARW) To Acquire A.E. Petsche

November 17, 2009 9:21 AM EST

Arrow Electronics, Inc. (NYSE: ARW) today announced an agreement to acquire A.E. Petsche Company, a leading provider of interconnect products, including specialty wire, cable and harness management solutions, to the aerospace and defense markets.

"With this acquisition, A.E. Petsche will expand Arrow's product offering in specialty wire and cable and will greatly increase our presence in the aerospace and defense markets," said Peter T. Kong, president of Arrow Global Components. "This strategic transaction will add to the breadth of Arrow's customer base and increase our staff of highly experienced sales professionals, while allowing for a variety of cross-selling opportunities with our existing business as well as other emerging markets."

"We believe A.E. Petsche will further benefit from Arrow's considerable global scale, vast customer base, and strong financial resources," said Glenn Davidson, chief executive officer of A.E. Petsche. "As a result of this transaction, both Arrow and A.E. Petsche will strengthen their product portfolio in the aerospace and defense markets."

No financial data was provided for the acquisition.

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