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."
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