Flex To Buy Crown Technical For $325 Mln In Cash
(RTTNews) - Flex Ltd. (FLEX), an electronics manufacturing company, announced on Thursday that it has inked a deal to acquire Crown Technical Systems, a firm with fully integrated power distribution and protection systems, for $325 million in cash.
The transaction, to be closed in December, is expected to be accretive in the first year after closure.
Revathi Advaithi, CEO of Flex, said: "This acquisition reaffirms our commitment to differentiate our value through our EMS + Products + Services strategy that will deliver longer-term shareholder value."
For the 12-month period to March 31, 2025, Crown is expected to post revenue of around $120 million, with high-teens EBITDA margin.
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