Arrow Electronics, Inc. (NYSE:ARW), through its wholly-owned subsidiary inMunich, Germany (“Arrow CEHM”), is initiating an all-cash tender offer to acquire the shares of DATA MODUL Aktiengesellschaft Produktion und Vertrieb von elektronischen Systemen (“Data Modul AG”) (FSE:DAM) for a purchase price of €27.50 per share ($31.00 per share based on current exchange rates). The purchase price represents a premium of approximately 35 percent on the weighted average stock exchange price of theData Modul AG-shares during the prior three months.
“This acquisition expands and strengthens our visual solutions capabilities and will broaden both our offerings and our geographic reach in this important market. We are excited to welcome the Data Modul team to Arrow,” said Michael J. Long, chairman, president and CEO of Arrow.
In conjunction with this tender offer, Arrow CEHM has entered into agreements with several shareholders of the company including the Hecktor family and Varitronix Investment Limited through which Arrow CEHM has secured the acquisition of approximately 37% of the nominal share capital of the company. The management board and supervisory board of Data Modul AG support the transaction.
Headquartered in Munich, Germany, Data Modul AG has operations in Europe, Middle East, Asia, and North America. Sales in 2014 are estimated to be €160 million. The purchase price assuming all shares are tendered would be approximately €94 million ($105 million based on current exchange rates).
For more information, please visit arrow.com/datamoduloffer.
Arrow Electronics (www.arrow.com) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 100,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 460 locations in 58 countries.