Accelerated Performance Inc. has acquired the assets of Arrow Electronics Inc.'s ASK Engineering Design Services business, EBN has learned.
API, an 11-person firm that develops and licenses technology for the computer and telephony industries, completed the deal early this month in which it bought for an undisclosed amount the equipment and assets of ASK and assumed the lease of lab space at the Thousand Oaks, Calif., facility.
Three "top engineers" from ASK EDS have also been retained by API, which is a former client of the design group, according to Richard Zodnik, chief technology officer at API, San Juan Capistrano, Calif.
"I acquired the business for the people," Zodnik said. "It was more of a people acquisition than an asset acquisition. The people in the group are incredibly smart."
ASK EDS had operated as a design center for Wyle Electronics, Irvine, Calif., until Arrow bought the distributor in 2000.
Earlier this year, Arrow moved ASK EDS into an ASIC design center in Thousand Oaks, but economic conditions led the distributor to begin shutting down the operation in late March, outsourcing many of the designs to third-party engineering firms, according to people with ties to the group.