Arrow Electronics buys aircraft electronic parts distributor

BY JAMES BERNSTEIN | james.bernstein@newsday.com

February 11, 2008

Arrow Electronics Inc., one of the world's biggest distributors of components and Long Island's largest company in terms of sales, said Monday it has agreed to acquire a Denver-based distributor of electronic parts for military and commercial aircraft.

Terms of the deal were not announced.

Arrow, based in Melville, said it has agreed to acquire ACI Electronics, which distributes products in the United States, Israel, Spain and Italy. ACI has about 60 employees, and sales in 2007 were about $60 million.

Arrow said the acquisition will add 3 to 4 cents to earnings this year.

ACI has about 2,000 customers who manufacturer military and commercial aircraft systems, Arrow said.

Last week, Arrow announced sales in 2007 were $15.9 billion, double that of the Island's second-largest company, Cablevision Systems Corp. of Bethpage, whose sales were $5.9 billion.

In morning trading, Arrow shares were up 82 cents, to $32.94.