Arrow buys Minnesota telecom company

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."