DCC to sell distribution subsidiary
DCC is selling the Altimate Group to Arrow Electronics for €48.1 million as part of a strategy to focus its distribution business on retail and resellers.
DCC has announced that it is selling the Altimate Group, DCC SerCom's enterprise distribution business, to Arrow Electronics.
DCC said that the value for the transaction was €48.1 million, of which €41 million is payable in cash on completion.
In addition, Arrow will take on certain deferred acquisition consideration obligations of Altimate which are currently recorded in the books of Altimate at €7.1 million.
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