Arrow Electronics Inc., a provider of products, services and solutions to users of electronic components, has acquired Converge, a provider of reverse logistics services.
Converge, with 350 employees, is headquartered in Peabody, Mass., with offices in Singapore and Amsterdam, including support centers throughout Europe, Asia and the Americas. Converge is a distributor of electronic components with business lines dedicated to the secure disposal of IT assets and a full suite of reverse supply chain services.
The acquisition is expected to be accretive to earnings by $.05 to $.10 per share annually.
Headquartered in Melville, N.Y., Arrow serves as a supply channel partner for over 900 suppliers and 125,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 310 locations in 51 countries and territories.
