UPDATE 1-Arrow Electronics to buy components business of Achieva
(Adds details)
Feb 29 (Reuters) - Arrow Electronics Inc (ARW.N: Quote, Profile, Research, Stock Buzz), a distributor of electronic parts and computer hardware, said it agreed to buy the components distribution business of Singapore-based Achieva Ltd (ACHL.SI: Quote, Profile, Research, Stock Buzz) 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)
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Sphere
Piracy fight
Obama visits Jewish shrine