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UPDATE 1-Arrow Electronics to buy components business of Achieva

Fri Feb 29, 2008 7:04am EST

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Feb 29 (Reuters) - Arrow Electronics Inc (ARW.N), a distributor of electronic parts and computer hardware, said it agreed to buy the components distribution business of Singapore-based Achieva Ltd (ACHL.SI) to strengthen its position in the Southeast Asian markets.

Financial terms of the deal were not disclosed.

Arrow expects the deal to immediately add 1 cent to 3 cents a share to earnings in the first 12 months.

The company said with this acquisition, it will gain relationships with major semiconductor suppliers.

Achieva's products cover semiconductor components such as integrated circuits, programmable logic devices, digital signal processing chips and microchip-controller units. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Pratish Narayanan, Vinu Pilakkott)

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