TODAY'S PAPER
47° Good Evening
47° Good Evening
Business

Arrow to get Texas company

Phone

Phone

Melville-based Arrow Electronics Inc. will enter the unified communications market by acquiring a communications provider, the company announced Thursday morning.

Arrow, the electronics distributor, said it will acquire Shared Technologies Inc., based in Coppell, Texas, which sells and installs communications solutions including unified voice and data technologies.

Details of the transaction were not disclosed. The deal, subject to approval, is expected to close by the end of September. It would add 10 to 12 cents to its annual per-share earnings for the first full year.

Shared, with sales of $250 million in 2009, has about 1,000 employees.
Andy Bryant, president of Arrow ECS, said the acquisition “builds on our strategy to diversify into faster growing, high-margin markets that are complementary to our existing businesses.”

--------------------
Read more of Inside Long Island Business

Comments

We're revamping our Comments section. Learn more and share your input.

More news