Arrow buys Minnesota telecom company
Arrow Electronics Inc. Melville headquarters. (April 27, 2011) Credit: David Pokress
Melville-based Arrow Electronics Inc. has bought Cross Telecom, an Internet protocol and communications company. Terms of the deal were not provided in a Monday news release.
Cross, headquartered in Bloomington, Minn., has about 315 employees and had sales of about $120 million in 2010.
The transaction is expected to add $.01 to $.05 per share to Arrow's earnings in the first full year of operations. Cross will be managed through Shared Technologies, a wholly owned subsidiary of Arrow Electronics.
Cross is "a leading North American service provider of converged and Internet protocol technologies and unified communications," Arrow said in a news release.
"Cross' portfolio of solutions and services includes voice, data, Internet-protocol telephony, wireless and Cross net maintenance and support provided to Fortune 1000 customers."
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
