(RTTNews) - Flex Ltd. (FLEX), an electronics manufacturer, said on Monday that it has inked a deal to buy Electrical Power Products, Inc., a provider of engineered-to-order electrical power control and protection systems, for around $1.1 billion in an all-cash deal.
The transaction is expected to add to the adjusted earnings per share of the acquirer in the first full fiscal year after close.
"This acquisition complements and expands Flex's exposure to high-growth, margin-accretive end markets shaped by long-term trends such as grid modernization, electrification, data center buildout, and U.S. reshoring," the company said.
The transaction is anticipated to be closed in the first quarter of Flex's fiscal 2027.
For the 12-month period to March 31, EP2 is projected to report revenue of around $323 million.
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