Flex (FLEX) announced on Monday the successful completion of its previously disclosed acquisition of Crown Technical Systems for $325 million in an all-cash deal.
Revathi Advaithi, CEO of Flex, expressed enthusiasm about the acquisition, stating, "We are thrilled to officially welcome the Crown Technical Systems team to Flex. This strategic move enhances our unique EMS + Products + Services portfolio in the data center and power sectors. It also strengthens our foothold in high-growth markets, positioning us to deliver long-term value to our customers and shareholders."
Crown Technical Systems is projected to generate approximately $120 million in revenue, with an EBITDA margin in the high teens by the end of fiscal 2025, concluding on March 31, 2025.
