Arrow Electronics has announced its second acquisition of 2008, as it looks to delve further into vertical markets with an agreement to buy ACI Electronics.

ACI is a distributor of components, specializing in defense and aerospace applications. The company is headquartered in Denver, has around 60 employees worldwide, and its total sales in 2007 were approximately $60 million.

"With the acquisition of ACI, we continue to execute on our strategic priority to pursue opportunities in the more rapidly growing areas of the market. In the last five years, ACI has grown sales organically at a compound annual growth rate of approximately 20 percent,” said Michael Long, the president of Arrow Global Components, in a statement. Long said the company will combine ACI with its Arrow/Zeus business

Arrow also announced in January that it would acquire the franchise components business of Hynetic Electronics and Shreyanics Electronics in India.