* To pay $7/shr in cash, offers more than 100 pct premium
* Deal to add to earnings in first full year of operations
* Deal to close in Q4
* Nu Horizon shares more than double in value
Sept 20 (Reuters) - Arrow Electronics Inc (ARW.N) agreed to buy technology distributor Nu Horizons Electronic Corp NUHC.O for about $130 million in cash to boost its presence in the fast-growing Asia-Pacific region.
The deal, which is Arrow’s fifth buy this year, comes close on the heels of rival Avnet Inc’s AVT.N acquisition of Japan’s Unidux Inc 9897.T.
The Asia-Pacific region, which is driving global sales of electronics products, accounted for about a quarter of Arrow’s revenue in 2009, up from 18 percent in the prior year.
Arrow will pay $7 per share for Nu Horizons, more than double the stock’s closing price of $3.41 Friday on Nasdaq.
Nearly a third of Melville, New York-based Nu Horizons’ 2010 revenue of $671 million came from the Asia-Pacific region.
The deal is expected to close in the fourth quarter.
Shares of Nu Horizon rose $3.50 to $6.91 to touch their highest since May 2008. They had touched a year high of $4.68 on Jan. 21 but shed 37 percent of their value to a year low of $2.95 on July 7. (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Gopakumar Warrier)