Arrow Electronics (NYSE: ARW) Owns Assets of Richardson Electronics (Nasdaq: RELL)
Tuesday, March 01, 2022 11:40 AM

Arrow Electronics, Inc. (NYSE: ARW), announced that the company has successfully completed the acquisition of all of the assets and operations of the RF, Wireless and Power Division of Richardson Electronics, Ltd. (Nasdaq: RELL).

“We are excited to welcome the Richardson RFPD team into the Arrow organization. With their specialized expertise in RF engineering and a highly talented team of sales professionals, we look forward to a successful future together,” said Michael J. Long, chairman, president, and chief executive officer of Arrow Electronics.

Richardson RFPD will become a separate operating unit of Arrow Electronics and its headquarters will remain in LaFox, IL. Richardson RFPD has approximately 400 employees and total sales were in excess of $350 million for the latest fiscal year ended May 29, 2010.

The transaction is expected to be $0.10-$0.20 per share accretive to earnings in the first full year of operations.

The shares of Arrow Electronics (NYSE: ARW) are trading at $39.04, down 0.41 percent; and the shares of Richardson Electronics (Nasdaq: RELL) are trading at $13.40, up 3.08 percent.