FLEX LTD. acquires Mirror Controls International (MCi)
Snapshot
FLEX LTD. acquired Mirror Controls International (MCi) for approximately $555.2 million, net of $27.7 million of cash acquired in June 2015. The transaction was structured as all cash. Mirror Controls International (MCi) is a High Reliability Solutions (HRS) - Automotive business.
- Acquirer
- FLEX LTD.
- Target
- Mirror Controls International (MCi)
- Value
- approximately $555.2 million, net of $27.7 million of cash acquired
- Date
- June 2015
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
FLEX LTD. acquired Mirror Controls International (MCi) for approximately $555.2 million, net of $27.7 million of cash acquired, a transaction completed in June 2015, structured as all cash.
Mirror Controls International (MCi) operates in High Reliability Solutions (HRS) - Automotive. 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.
This acquisition expanded the Company's capabilities in the automotive market, and was included in the HRS segment.
Higher-margin automotive mechatronics content expanding the HRS segment. High Reliability Solutions (HRS) segment
No advisory firms have been disclosed for this transaction.