FLEX acquisition history

NEXTracker, then a Flex subsidiary, acquired BrightBox Technologies, a Berkeley, California developer of predictive modeling software and machine-learning technologies. The acquisition added advanced diagnostics and real-time control capabilities to NEXTracker's solar tracking systems, including cofounders Allan Daly and Dr. Francesco Borrelli.

This acquisition amplifies NEXTracker's software engineering resources, including the addition of cofounders Allan Daly and Dr. Francesco Borrelli.Dan Shugar — CEO, NEXTracker

International DisplayWorks (IDW) was a Roseville, California-based designer and manufacturer of small form-factor liquid crystal displays, modules and assemblies used in cell phones, MP3 players and industrial and commercial products, with manufacturing in China. Flextronics acquired IDW in a stock-for-stock merger, folding its LCD design and production into Flextronics' vertically integrated components offering.

IDW augments our strategy of providing vertically integrated solutions by adding LCD design and manufacturing capabilities.Mike McNamara — Chief Executive Officer, Flextronics

Li Xin Industries was a China-based manufacturing operation acquired by Flextronics during its fiscal year ended March 31, 2001, in a transaction accounted for under the purchase method. Related Flextronics subsidiaries include Li Xin Mould Manufacturing, reflecting plastics and tooling capabilities.

Ojala-Yhtyma was a Finland-based manufacturing business acquired by Flextronics during its fiscal year ended March 31, 2001, in a transaction accounted for under the purchase method.

Irish Express Cargo was an Ireland-based logistics and supply-chain business acquired by Flextronics during its fiscal year ended March 31, 2001, in a transaction accounted for under the purchase method. Related Flextronics subsidiaries include Irish Express Logistics.

FICO, Inc. was a U.S.-based business in which Flextronics had earlier held a 40% interest (acquired around fiscal 1997). Flextronics completed its acquisition of FICO during the fiscal year ended March 31, 2001, in a transaction accounted for under the purchase method.

Electrical Power Products (EP2), headquartered in Des Moines, Iowa, has more than 35 years of experience designing, integrating and manufacturing engineered-to-order control and relay panels and modular, integrated control buildings. Flex acquired it to expand its Critical Power offering with engineered-to-order power control and protection capabilities for utility, power-generation and data center customers, integrating EP2 into Flex's Embedded and Critical Power business.

Flex acquired Crown Technical Systems, a leader in custom-engineered, fully integrated power distribution and protection systems with nearly three decades of capabilities in modular solutions, medium voltage switchgear, control and relay products, serving utilities, data centers and power generation. Facilities span California, Texas and Canada.

The addition of Crown Technical Systems strengthens our position to help customers solve power, heat, and scale challenges in the data center space aligned with our long-term growth strategy. This acquisition reaffirms our commitment to differentiate our value through our EMS + Products + Services strategy that will deliver longer-term shareholder value.Revathi Advaithi — CEO, Flex

This deal brings together complementary products and teams, marking a superb outcome for Crown's employees and customers. We are excited to join the Flex team and accelerate growth through Flex's global reach and strong presence in markets such as data centers.Norm Siddiqui — President, Crown Technical Systems

JetCool Technologies, founded in 2019 and headquartered in Littleton, Massachusetts, is a liquid-cooling company for data centers whose microconvective cooling products range from sealed cold plates and direct liquid-to-chip solutions to turnkey systems and coolant distribution units. Flex acquired it to bolster its data center and power portfolio for AI and high-performance-computing workloads.

Flex acquired Anord Mardix, a global leader in critical power solutions, from private equity firm Bertram Capital. Anord Mardix was established in 2018 from the combination of Anord Control Systems and Mardix and offers switchgear, busway, power distribution and modular power systems plus monitoring solutions and services. The acquisition expands Flex's offering in the data center market.

This acquisition builds on Flex's previously articulated strategy to move toward higher margin opportunities in faster growing verticals in our Reliability business. With Anord Mardix, Flex's business will be better positioned to capture rising global demand for data center power solutions.Revathi Advaithi — CEO, Flex

Anord Mardix primarily markets critical power directly to data center operators. By joining Flex, we will be able to build out Anord Mardix's comprehensive range of end-to-end power systems for critical data facilities, leveraging Flex's expertise and efficiencies in advanced manufacturing and global supply chain.James Peacock — Managing Director, Anord Mardix

In September 2017 Flex acquired a power modules business that expanded its capabilities within the CEC segment. Purchase consideration of $54.7 million included $11.6 million net tangible assets, $33.3 million purchased intangibles ($16.0 million customer relationships) and $9.7 million goodwill. approximately $54.7 million, net of cash acquired.

Additionally, in September 2017, the Company acquired a power modules business, which expanded its capabilities within the CEC segment. The Company paid $54.7 million, net of cash acquired.Flex FY18 10-K — Business and Asset Acquisitions & Divestitures note

Flex acquired AGM Automotive in April 2017 for approximately $213.7 million, net of cash acquired, in an all-cash transaction. The deal expanded Flex's capabilities in the automotive market within its High Reliability Solutions (HRS) segment. approximately $213.7 million, net of cash acquired.

In April 2017, the Company completed its acquisition of AGM, which expanded its capabilities in the automotive market, and is included within the HRS segment. The Company paid $213.7 million, net of cash acquired.Flex FY18 10-K — Business and Asset Acquisitions & Divestitures note

Flextronics acquired 100% of the outstanding share capital of NEXTracker, a Fremont, California provider of smart solar tracking solutions whose single-axis photovoltaic trackers orient PV panels to maximize energy output. Flex also assumed NEXTracker's equity incentive plan. NEXTracker continued under founder-CEO Dan Shugar and was later spun off via IPO and full separation in 2023-2024. approximately $240.8 million initial cash (net of $13.2M cash acquired) plus up to ~$81.0M contingent consideration; total purchase consideration $321.8 million (announced as up to $330 million).

This acquisition aligns well with our strategy of acquiring technologies that deliver innovative, value-added solutions to our customers in industries with strong growth rates and higher margins.Mike McNamara — CEO, Flex

Joining Flex will enable NEXTracker to accelerate its growth while leveraging our best-in-class, innovative technologies, and a shared passion for advancing the future of renewable energy.Dan Shugar — Chairman and CEO, NEXTracker

Flextronics acquired an optical transport facility from Alcatel-Lucent, acquiring primarily $55.1 million of inventory and $10.0 million of property and equipment (a building and land), plus a $3.6 million customer-relationship intangible. The deal expanded Flex's capabilities in the telecom market. approximately $67.5 million.

On July 1, 2015, the Company acquired an optical transport facility from Alcatel-Lucent for approximately $67.5 million, which expanded its capabilities in the telecom market and was included in the CEC segment.Flextronics International FY16 10-K — Business and Asset Acquisitions note

Flextronics (now Flex) acquired 100% of the outstanding share capital of Mirror Controls International, a supplier of electronic actuation and mechatronics systems for the automotive market. The deal added $75.5 million in customer-related intangibles and $161.3 million in licenses and other intangibles, with total aggregate purchase price recorded at $555.2 million. approximately $555.2 million, net of $27.7 million of cash acquired.

This acquisition expanded the Company's capabilities in the automotive market, and was included in the HRS segment.Flextronics International FY16 10-K — Business and Asset Acquisitions note

Riwisa AG was a family-owned precision-plastics manufacturer registered in Switzerland. Flextronics acquired all of Riwisa's outstanding shares, expanding its capabilities in the medical-devices market, particularly precision injection molding. Flextronics primarily acquired inventory, property and equipment and assumed certain payables and debt.

Flextronics acquired certain manufacturing operations from Google's Motorola Mobility LLC and simultaneously entered into a manufacturing and services agreement to build mobile devices for Motorola Mobility. The deal deepened Flextronics' relationship with Motorola Mobility and expanded its footprint in the mobile-devices market; the acquired operations contributed roughly 11.5% of Flextronics' total revenue in the fiscal year ended March 31, 2014.

Saturn Electronics and Engineering was a supplier of electronics manufacturing services, solenoids and wiring for the automotive, appliance, consumer, energy and industrial markets. Flextronics acquired all of Saturn's outstanding common stock, broadening its service offering and strengthening its capabilities in the automotive and consumer-electronics businesses; the acquired operations added roughly $100.9 million of revenue in the fiscal year ended March 31, 2013.

Stellar Microelectronics was a California-based electronics manufacturing services provider. Flextronics acquired the business during its fiscal year ended March 31, 2013; the acquisition expanded the Company's capabilities primarily in the medical and defense markets.

Avail Medical Products was a manufacturer of disposable medical devices. Flextronics acquired 100% of Avail's common stock, expanding its capabilities in the medical market segment, including the design, manufacturing and logistics of disposable medical devices, hand-held diagnostics, drug-delivery devices and imaging, lab and life-sciences equipment.

FRIWO Mobile Power was a Germany-based power-supply business that became a Flextronics subsidiary. Its acquisition, completed in Flextronics' fiscal year ended March 31, 2009, expanded the Company's power-supply capabilities.

Solectron was a Milpitas, California-based global provider of electronics manufacturing and integrated supply-chain services, with particular strength in the high-end computing and telecommunications segments. Flextronics acquired 100% of Solectron in a stock-and-cash transaction, combining the two companies into a leading global EMS provider with more than $30 billion in annual revenue, roughly 200,000 employees and operations in about 35 countries.

Solectron is an extremely important strategic addition to Flextronics and this combination transforms the landscape of our industry.Mike McNamara — Chief Executive Officer, Flextronics

Under a June 2004 asset purchase agreement, Flextronics acquired certain of Nortel Networks' optical, wireless, wireline and enterprise manufacturing operations plus its optical design operations in Canada and Northern Ireland. The acquired assets were primarily inventory and capital equipment, and the deal was paired with a four-year manufacturing agreement and a three-year design services agreement that made Nortel Flextronics' largest single customer.

In the first quarter of its fiscal 2002, Flextronics took over management of Ericsson's mobile-telephone manufacturing operations, using facilities owned by Ericsson in Brazil, Great Britain, Malaysia and Sweden as well as Flextronics' own facilities. In connection with this manufacturing relationship, Flextronics purchased equipment, inventory and other assets from Ericsson and assumed certain accrued expenses.

JIT Holdings was a Singapore-based provider of electronics manufacturing and design services. Flextronics acquired 100% of JIT in a stock-for-stock merger accounted for as a pooling of interests, expanding its manufacturing capacity and presence in Asia.

Chatham Technologies was a provider of integrated electronics enclosure systems and related industrial and electronics manufacturing and design services. Flextronics acquired 100% of Chatham in a stock-for-stock merger accounted for as a pooling of interests, adding enclosure design and integration to its vertically integrated offering.

Lightning Metal Specialties and its related entities provided injection molding, metal stamping and integration services. Flextronics acquired 100% in a stock-for-stock merger accounted for as a pooling of interests, expanding its vertically integrated enclosure and mechanical capabilities.

The DII Group was a U.S.-based provider of electronics manufacturing services, including printed circuit boards and related assembly. Flextronics acquired 100% of DII's outstanding shares in a stock-for-stock merger accounted for as a pooling of interests, substantially expanding Flextronics' EMS scale and printed-circuit-board and components capabilities.

Palo Alto Products International was a Singapore-based provider of industrial and electronics manufacturing and design services, with product design and plastics expertise. Flextronics acquired 100% in a stock-for-stock merger accounted for as a pooling of interests, adding design and enclosure capabilities to its EMS platform.

Advanced Component Labs was a technology and components business acquired by Flextronics in late March 1999. The acquired assets included in-process research and development; the transaction was accounted for under the purchase method.

Kyrel EMS Oyj was a Finnish electronics manufacturing services provider. Flextronics acquired Kyrel in a merger, expanding its manufacturing footprint and customer base in Europe and the Nordic telecom market.

Altatron was a California-based contract electronics manufacturer. Flextronics acquired Altatron in a stock transaction accounted for as a pooling of interests, expanding its contract-manufacturing capacity in the United States.

Conexao was a Brazilian contract electronics manufacturer. Flextronics acquired Conexao in a stock transaction accounted for as a pooling of interests, expanding its contract-manufacturing presence in Brazil and South America.

DTM Products was a Colorado-based producer of injection-molded plastics for North American OEMs. Flextronics acquired DTM in a stock transaction accounted for as a pooling of interests, adding plastics capabilities to its vertically integrated manufacturing offering.

Energipilot was a Swedish company principally engaged in providing cables and engineering services for Northern European OEMs. Flextronics acquired Energipilot in a stock transaction accounted for as a pooling of interests, adding cable-assembly and engineering capabilities in the Nordic region.

Neutronics Electronics Industries Holding was an Austrian printed-circuit-board assembly company with operations in Austria and Hungary. Flextronics acquired approximately 92% of Neutronics' outstanding ordinary shares in a stock transaction, expanding its European electronics-manufacturing footprint.

Astron Group was a printed-circuit-board specialist whose technology gave Flextronics the ability to fabricate miniature, gold-finished PCBs for specialized applications such as cellular phones and optoelectronics, with fabrication operations in China. Flextronics acquired all of Astron's outstanding stock in a transaction accounted for under the purchase method.