Arrow Electronics has initiated an all-cash tender offer to acquire the shares of Data Modul AG, a Munich-based manufacturer and distributor of liquid crystal displays (LCDs) used in a variety of equipment.
Arrow said it is offering $31 per share for Data Modul’s stock. The purchase price is about 35 percent more than the weighted average stock exchange price of the Data Modul AG-shares during the prior three months.
The purchase price would be approximately $105 million based on current exchange rates, assuming all shares are tendered, according to Arrow.
“This acquisition expands and strengthens our visual solutions capabilities and will broaden both our offerings and our geographic reach in this important market, “said Michael J. Long, chairman, president and CEO of Arrow, in a statement.
Data Modul AG has operations in Europe, Middle East, Asia, and North America. Sales in 2014 were estimated to be $181 million.
Its products include liquid crystal displays, thin-film transistor (TFT) displays and TFT monitors. They are designed for industrial and medical applications.
The company was established in 1972 and is a major manufacturer and distributor of high quality electronic products. It is the leading European supplier of flat screens for industrial, telecommunication, automotive and especially medical markets, according to the company.
Data Modul Inc. is a wholly owned subsidiary of Data Modul AG that was established in the United States to sell products manufactured by Data Modul AG as well as local franchises to represent and support these products throughout the North American market.
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