Flex Ltd. (FLEX), a prominent player in the electronics manufacturing sector, announced on Thursday its agreement to acquire Crown Technical Systems for $325 million in cash. Crown specializes in fully integrated power distribution and protection systems. The deal is set to finalize in December and aims to be financially beneficial within the first year post-acquisition.
Revathi Advaithi, the CEO of Flex, emphasized the strategic significance of this acquisition, stating, "This move underscores our dedication to enhancing our unique value proposition through our EMS + Products + Services strategy, ultimately driving long-term shareholder value."
Looking ahead, Crown is projected to achieve approximately $120 million in revenue by March 31, 2025, with an EBITDA margin in the high teens.
