FLEX LTD. acquires BrightBox Technologies
Snapshot
FLEX LTD. acquired BrightBox Technologies for NULL (terms not disclosed) in August 2016. BrightBox Technologies is a Berkeley, California, USA-based Industrial & Emerging Industries (IEI) - Energy/Solar (via NEXTracker) business.
- Acquirer
- FLEX LTD.
- Target
- BrightBox Technologies
- Value
- NULL (terms not disclosed)
- Date
- August 2016
- Type
- full acquisition
- Status
- transcript-only - no 8-K
The deal at a glance
About this deal
FLEX LTD. acquired BrightBox Technologies for NULL (terms not disclosed), a transaction announced in August 2016.
BrightBox Technologies operates in Industrial & Emerging Industries (IEI) - Energy/Solar (via NEXTracker), is based in Berkeley, California, USA. 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.
Expanded NEXTracker's technology leadership with first-mover capability for advanced diagnostics and real-time control of solar tracking systems, accelerating commissioning time and increasing energy yield.
Software/ML capability to optimize energy yield and lower deployment cost of NEXTracker systems. Integrated with Flex's Connected Intelligence platform for predictive control across NEXTracker's >4 GW global fleet. NEXTracker (Flex IEI segment subsidiary)
No advisory firms have been disclosed for this transaction.