LI's Arrow buys Japanese tech company

Arrow Electronics Inc. has completed its all-cash purchase of the Japanese retail sales company Chip One Stop, acquiring 94 percent of its stock.

The Melville electronics distributor did not say how much it paid for Chip One Stop, of Yokohama, which sells online and has about $47 million in annual revenue.

Arrow's Japanese unit made the offer in August for Chip One Stop.

"Chip One Stop has offices throughout Japan and is focused primarily on supplying electronic components to design engineers," Arrow said in a Tuesday news release

Chip One Stop's international website offers semiconductors, computer cables, repair parts and numerous other items. The Internet site also hosts product lines for Kyocera and other original equipment makers.

Arrow, an electronics wholesaler founded in 1935, has a market capitalization of $4.2 billion and employs about 12,700 workers. It had net income of $568.9 million on sales of $20.66 billion in the past year.

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