TechTurn Acquired by Arrow Electronics

Arrow Electronics, Inc. (NYSE:ARW) announced today that it has agreed to acquire TechTurn, Ltd. (“TechTurn”), a leading provider of electronics asset disposition (EAD) services that specializes in the processing and sale of technology devices that are returned or recycled from businesses and consumers.

“We are very excited to have the TechTurn team join the Arrow family. This acquisition will strengthen our existing portfolio of services and is a continuation of our global strategy to expand into faster growing services that span the full lifecycle of technology and complement our core businesses”

TechTurn offers a comprehensive portfolio of services, including asset retirement, data wipe, asset test and diagnostics, data sanitation, and refurbishment and remarketing. With offices in Texas and Virginia, as well as partner facilities in Europe and Canada, TechTurn provides EAD services to Fortune 500 customers, original equipment manufacturers, and large retailers.

“We are very excited to have the TechTurn team join the Arrow family. This acquisition will strengthen our existing portfolio of services and is a continuation of our global strategy to expand into faster growing services that span the full lifecycle of technology and complement our core businesses,” said Paul J. Reilly, executive vice president, finance and operations and chief financial officer of Arrow Electronics.

TechTurn is headquartered in Austin, Texas, and has 135 employees. The company’s sales are expected to exceed $50 million in 2012. This acquisition is subject to the customary regulatory approval process and is expected to close in the next 45 days.

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 over 1,200 suppliers and 115,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 340 locations in 52 countries.

Republished from AustinStartup.com

Tags:  arrow electronic, arrow electronics, electronic distributors, electronic parts, electronic stores, electronic supplies, electronics, future electronics

About Bryan Menell

Bryan Menell is the Managing Editor for AustinStartup and the Director of the Collaboratory at Dachis Group. He is a co-founder of Capital Factory, on the board of Texchange, and runs the popular Austin Tech Happy Hour with his wife. He advises early stage technology companies including Socialware, SpeedMenu, and AudiencePoint.