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Friday, March 23, 2007

KeyLinkSystems Distribution Business Assets to be Sold

KeyLink Systems will be sold to Arrow Electronics for $485 million in cash according to Agilysys the current owner of the KeyLink Systems distribution business assets. The announcement followed a March 12 vote by the Board of Agilysys which provided overwhelming support for the sale. The company had intended to sell the business assets since January the required a two thirds majority vote to approve the transaction. The company also received good news just a few days earlier when they learned that the Federal Trade Commission had terminated its Hart-Scott-Rodino antitrust review.