Arrow Electronics Announces Acquisition of Cross Telecom
Arrow Electronics has announced the acquisition of Cross Telecom, a North American service provider of converged and internet protocol technologies and unified communications.
“This acquisition is a continuation of Arrow’s strategy to expand into faster growing, high-margin services that complement our global ECS business,” said Andy Bryant, president of Global Enterprise Computing Solutions at Arrow.
Bloomington, MN based Cross’ portfolio of solutions and services includes voice, data, Internet-protocol telephony, wireless and CrossNet maintenance and support provided to Fortune 1000 customers. The company has around 315 employees. For the year 2010, the company reported total sales of approximately $120 million.
The transaction is expected to be $.01-$.05 per share accretive to earnings in the first full year of operations. Shared Technologies, a subsidiary of Arrow, is expected to manage the company. The subsidiary specializes in unified communications, voice and data technologies, contact center, network security, and traditional telephony.
Melville, N.Y. based Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It serves as a supply channel partner for more than 1,200 suppliers and 115,000 original equipment manufacturers, contract manufacturers and commercial customers via a global network of more than 340 locations in 52 countries.
Bryant believes that Cross strengthens their customer and supplier relationships as well as their industry and technical expertise in the unified communications, telephony and managed services industry.
Earlier in March, Arrow Electronics entered into a distribution agreement with Exosite, a machine-to-machine (M2M) application and cloud computing software company. Thanks to the agreement, Arrow customers now have access to Exosite’s cloud-based data platform for M2M applications.
Anshu Shrivastava is a contributing editor for unified communications. To read more of Anshu’s articles, please visit her columnist page.
Edited by Rich Steeves