shanghai, November 26, 2024 / USA Today / -- Recently, flex ltd (NASDAQ stock code: FLEX) announced that it has completed the previously announced all-cash acquisition of Crown Technical Systems for 0.325 billion US dollars, Crown Technical Systems is a leading enterprise focused on comprehensive integrated distribution and protection systems.

This acquisition further increases flex ltd's exposure to the rapidly growing, profit-increasing end markets (including the adoption of modular datacenters and medium-voltage distribution), and expands the company's power product portfolio to the public electrical utilities market. In addition, this transaction also strengthens flex ltd's key power product portfolio and supports its further growth in the USA datacenter market.

"We are pleased to welcome the Crown Technical Systems team to flex ltd," said Wei Wenxin, CEO of flex ltd. "This transaction strategically strengthens our unique EMS+ product+service datacenter and power portfolios, expands our business in high-growth markets, and helps create long-term value for our customers and shareholders."

Crown Technical Systems is expected to generate approximately 0.12 billion US dollars in revenue and a high double-digit EBITDA profit margin for the fiscal year 2025 ending on March 31, 2025. For reporting purposes, Crown Technical Systems will be included in flex ltd's industrial business segment of the reliability solutions department.

About Flex

Flex Ltd. is a preferred manufacturing partner for many businesses, committed to designing and manufacturing diverse products that make the world a better place for customers. With talent teams in 30 countries around the world and reliable and sustainable operational management, Flex provides innovative technology, supply chain, and manufacturing solutions for various industries and end markets. For more information, please visit cn.flex.com or follow the official WeChat public account: FlexChina.