M&A Deal Summary

Arrow Electronics Acquires Converge

On April 6, 2010, Arrow Electronics acquired electronics company Converge from Pharos Capital Group

Acquisition Highlights
  • This is Arrow Electronics’ 3rd transaction in the Electronics sector.
  • This is Arrow Electronics’ 8th transaction in the United States.
  • This is Arrow Electronics’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2010-04-06
Target Converge
Sector Electronics
Buyer(s) Arrow Electronics
Sellers(s) Pharos Capital Group
Deal Type Add-on Acquisition

Target

Converge

Peabody, Massachusetts, United States
Converge is a trading exchange for electronic components, computer products and networking equipment. Converge provides a high degree of market liquidity by aggregating supply and demand from thousands of component, original equipment and contract manufacturers, as well as distributors and resellers.

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Buyer(S) 1

Buyer

Arrow Electronics

Centennial, Colorado, United States
Category Company
Founded 1935
Sector Distribution
Employees22,100
Revenue 33.1B USD (2023)
DESCRIPTION
Entrance to Arrow Electronics' corporate headquarters in Centennial, Colorado.
Entrance to Arrow Electronics' corporate headquarters in Centennial, Colorado.

Arrow Electronics is a global supplier of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow's diverse customer base consists of original equipment manufacturers, contract manufacturers, and other commercial customers. These customers include manufacturers of industrial equipment and consumer products serving industries ranging from telecommunications, automotive and transportation, aerospace and defense, medical, professional services, and alternative energy, among others. Arrow Electronics was incorporated in 1935 and is headquartered in Centennial, Colorado.

DEAL STATS #
Overall 12 of 34
Sector (Electronics) 3 of 4
Type (Add-on Acquisition) 10 of 25
State (Massachusetts) 1 of 1
Country (United States) 8 of 20
Year (2010) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-06 Verical

San Francisco, California, United States

Verical, Inc. is an eCommerce marketplace geared toward meeting the end-of-life components and parts shortage needs of customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-21 Sphinx Group

Nottingham, United Kingdom

Sphinx Group Ltd. is a value added distributor of security and networking solutions.

Buy -

Seller(S) 1

SELLER

Pharos Capital Group

Dallas, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Pharos Capital Group is a private equity firm that provides later-stage equity funding to companies at or near cash-flow break even. Investment funds are typically used to support growth, acquisitions, management buyouts, or recapitalization. Pharos looks to commit $20 to $50 million per transaction. Target sectors include healthcare, business services, and technology. Pharos prefers US-based opportunities. Pharos Capital Group was formed in 1998 and is based in Dallas, Texas.

DEAL STATS #
Overall 11 of 23
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 4 of 11
State (Massachusetts) 1 of 2
Country (United States) 10 of 22
Year (2010) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-23 Handango

Hurst, Texas, United States

Handango is the leading global provider of smartphone content. By leveraging 16,000 content partners across more than 500 distribution channels, the largest collection of partners in the mobile content industry, Handango seamlessly delivers the entire smartphone marketplace into millions of customers' hands, both on the web and on smart devices. The company's market-leading content delivery platform, Handango AMPP, is the platform of choice for numerous mobile industry leaders including Motorola, Nokia, Samsung, RIM, HP, Verizon Wireless, T-Mobile, Microsoft and AOL. By delivering intuitive and compelling consumer experiences, Handango has become the trusted source for millions of smartphone users around the world. The Company is based out of Hurst, Texas and offers its products and services worldwide.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-28 Nursefinders

San Diego, California, United States

Nursefinders, Inc. is a nurse staffing companies to hospitals and other healthcare facilities and a major provider of home healthcare services. Through its network of approximately 120 medical staffing and home health care offices, Nursefinders provides RNs, LPN/LVNs, home health aides, therapists, medical social workers, nursing assistants, companions and other healthcare and medical clerical professionals to more than 4,200 hospitals, nursing homes, healthcare centers and patients across the U.S.

Sell $220M
Mergr

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