The sale of Arrow Altech Distribution's Computer Products Group to Sahara Holdings has been finalised. The company will now be called Arrow IT Distribution and will relocate to Midrand.
Although the deal has been on the cards for some time, it was finalised this week after it received regulatory approval from the competitions board.
Arrow Altech Distribution (ADD) MD Phillip Du Preez says the deal is a positive one and will allow ADD to focus on the sale of industrial components, which is its core business.
Atul Gupta, MD of Sahara Holdings, says the move is intended as an investment in the local IT distribution market.
"The acquisition is primarily due to competitive issues as many vendors are loathe to use the distributors appointed by the opposition.
"Arrow IT will continue to be led by current GM Bill Gradwell and we expect it to slot neatly into the group, offering the market a wider choice of products than before," Gupta says.
Although the announcement made by Sahara Holdings and ADD states that Arrow IT was sold for an undisclosed sum, Altech said in its audited results published on 7 May that the figure would be R11 million, subject to regulatory approval.
Related story:
Sahara in talks to buy Arrow Altech division
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