Arrow ECS Acquires ALTIMATE Group
Arrow ECS and DCC have agreed a deal for the acquisition of pan-European distribution company ALTIMATE.
- (1888PressRelease) April 04, 2012 - Paris, France - A new chapter in the life of the ALTIMATE Group is about to be written with the announcement of it's acquisition of by Arrow ECS.
It is important to note that this sale by DCC, of 100% of the ALTIMATE Group's shares to Arrow ECS is subject to approval from the European Commission regarding mergers. In the period between the project becoming official and approval from the European Commission, the two companies are not allowed to operate together in the market or embark on any joint ventures - they must remain competitors.
Patrice Arzillier, CEO Altimate Group announced:
"Before giving further reasons for this project, I want to talk about our last fiscal year, which closed at the end of March. It was a remarkable year: more than 20% increase in our turnover year-on-year; consolidation of our portfolio in our subsidiaries, especially with Symantec Enterprise Security, Oracle, NetApp and IBM; improvement in our key financial indicators such as a largely positive cash flow.
For the future, ALTIMATE has significant assets in hand: a recognised image and professionalism; strong partnerships; an indisputable commercial momentum. To consolidate these achievements and ensure the development of our Group, I sincerely think that this project for integration with Arrow, worldwide and European leader in distribution, is the best choice. Of course, it will allow us to meet the challenges of our industry. But more importantly, the culture of values at the heart of both our companies, and our complimentary resources, will create winning synergies to benefit our partners, whether suppliers or resellers.
Finally, let me finish with the opportunity for those who have made our company successful: the people working for ALTIMATE. For them, this project will enable them to further develop their skills and know-how within a dynamic and ambitious Group."
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