Arrow Electronics, Inc. (ARW) recently signed a distribution agreement with KORE Telematics.
According to the agreement, Arrow would now offer its Machine-to-Machine (M2M) customers KORE’s advanced data services, cellular management and satellite network services. These new improvisations shall provide technologically advanced services for the various connected devices used by consumers today.
KORE Telematics is a global leader with an offering of M2M solutions comprising GSM, CDMA and Satellite services. This agreement would help KORE Telematics proliferate its market penetration worldwide catering to its M2M application solutions across all vertical segments.
Earlier, Arrow Electronics’ Enterprise Computing (EC) Solutions segment had signed a distribution agreement in North America with Veeam Software to provide marketing and also technical support to Veeam to bolster its growth in the IT services industry.
Such proactive measures are imperative in order to combat the ongoing fiscal crisis still very much prevalent in the economy. Also, Arrow faces fierce competition from some big players in the industry such as Avnet, Inc. (AVT) and Ingram Micro Inc. (IM).
Established in 1935 and headquartered in Melville, New York, Arrow Electronics caters to the distribution and value added services of various electronic components and computer product solutions. It primarily operates through two main segments – Global Components and Global Enterprise Computing Solutions (ECS). It has been a valued Fortune 500 company over the years and has operations in about 50 countries.
In the short run, we have a Zacks #4 Rank for the stock, which translates into a short-term rating of Sell. We currently have a long-term rating of Neutral for the company’s stock.
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