NYSE listed Fortune 500 company, Arrow Electronics has successfully completed the acquisition of Ahmedabad and California-based product engineering and software R&D services company eInfochips, through its Indian subsidiary for an estimated consideration of Rs 1900 crores (around $300m), as reported by Mint and VC Circle.

AZB & Partners advised Arrow Electronics in the deal, led by partners Darshika Kothari and Sugandha Asthana, senior associate Rutunjay Singh and associates Khushboo Sukhwani, Pankhuri Govil and Kopal Sharraf.

Update 31 January 2018: Nishith Desai Associates (NDA) represented the eInfochips and the majority selling shareholders, led by partner Vaibhav Parikh, and senior associates Abhinav Harlalka and Supratim Guha.

Update: US firm Milbank Tweed Hadley & McCloy acted for Arrow on US law advice.

Post the merger, eInfochips will act as a fully owned subsidiary of Arrow Electronics and is expected to will expand Arrow’s “sensor-to-sunset” capabilities, by adding engineering, solution architecture, embedded software development, security, mobile device connectivity, app development, cloud configuration and management, and managed services including big-data analytics, as per the press release by eInfochips. This will also expand their offerings, and move them into the rapidly growing IoT services market, resulting in the delivery of complex and connected IoT solutions and technologies across multiple cloud platforms.

2018-01-09