MELVILLE, N.Y. -- Arrow Electronics (NYSE: ARW) has agreed to acquire Shared Technologies Inc.
Shared Technologies is a seller, installer, and maintainer of communications platforms, including the latest in unified communications, voice and data technologies, contact center, network security, and traditional telephony. The company is also a player in the high-margin, fast growing unified communications managed services provider space, which represents a total addressable market of more than $60 billion, according to Arrow.
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Shared Technologies' products and services reach a number of end markets including corporate, government and healthcare. The company will report through Arrow’s enterprise computing solutions’ North American business.
“This acquisition builds on our strategy to diversify into faster growing, high-margin markets that are complementary to our existing businesses,” said Andy Bryant, president of Arrow ECS. “Shared Technologies represents an exciting opportunity as we add a leading player in the unified communications, telephony, and managed services industries to our product portfolio. They bring deep customer and supplier relationships as well as extensive industry and technical expertise.”
Shared Technologies is based in Coppell, Texas, and has approximately 1,000 employees. Total sales in 2009 were approximately $250 million. The acquisition is expected to be $.10-$.12 per share accretive to earnings in the first full year of operations. The transaction is subject to customary regulatory approval and is expected to close by the end of September.
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