US based Arrow electronics to buy eInfochips for Rs 1800 cr

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US-based Arrow Electronics is acquiring eInfochips, a product engineering and software R&D services company, for Rs 1,800 crore.

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A formal announcement on the deal is expected soon. eInfochips was planning to hold a press conference in Ahmedabad on Tuesday, but it has now been postponed.

 

It can be recalled that ET reported carried a report that eInfochips was to be acquired by Arrow Electronics for Rs 1,500-Rs 1,800 crore and as a part of the pay-out, about 350 employees of the Ahmedabad based company would get Rs 1 crore each for their ESOP holdings.
Avendus was the adviser in the transaction. Last week, sources from Ahmedabad-based venture fund GVFL, which holds an around 5% stake in eInfochips, confirmed that a deal had been stuck, but added that it had not received any official communication on that until then.

Courtesy – Economic Times

 

 

 

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