Electronics distributor Arrow Electronics Inc., Melville, N.Y., plans to acquire Converge, a leading provider of reverse logistics services, and Verical Inc., a unique ecommerce marketplace geared toward meeting the end-of-life components and parts shortage needs of customers. Converge, with 350 employees, is headquartered in Peabody, Mass., with offices in Singapore and Amsterdam, including support centers throughout Europe, Asia and the Americas. Verical is based in San Francisco.
"These acquisitions complement Arrow's global strategy by providing comprehensive services across the entire product lifecycle for suppliers and customers," said Michael Long, the company's chairman, president and CEO. "Reverse logistics is a rapidly growing area, and this acquisition builds on Arrow's global capabilities as a supply chain and logistics expert. The addition of Verical also further strengthens our ecommerce capabilities."
Arrow Electronics had 2009 sales of $14.7 billion and operates 310 locations in 51 countries and territories. Details