Electronics Production |
Arrow Electronics acquires Cross Telecom
Arrow Electronics has acquired Cross Telecom (Cross). Cross is headquartered in Bloomington, MN, and has approximately 315 employees. Total sales were approximately USD 120 million for the year ended December 31, 2010.
“This acquisition is a continuation of Arrow’s strategy to expand into faster growing, high-margin services that complement our global ECS business,” said Andy Bryant, president of Arrow Global Enterprise Computing Solutions. “Cross strengthens our customer and supplier relationships as well as our industry and technical expertise in the unified communications, telephony and managed services industry.”
The transaction is expected to be $.01-$.05 per share accretive to earnings in the first full year of operations. Cross will be managed through Shared Technologies, a wholly owned subsidiary of Arrow Electronics.
