Recently, Flex, a leading global electronics manufacturing services provider, announced the completion of a cash acquisition of Crown Technical Systems, a leading company specializing in comprehensive integrated power distribution and protection systems, for a transaction amounting to $325 million. This acquisition signifies a significant step for Flex in deepening its business layout and expanding its product lines.

I. Acquisition Background

Flex International Ltd., established in 1969 in Silicon Valley, USA, built a factory in Singapore in 1981 and is listed on NASDAQ. As a leader in the electronics manufacturing services (EMS) industry, Flex provides comprehensive design, engineering, and manufacturing services for aerospace, automotive, computing, industrial, consumer goods, infrastructure, medical, and other fields. Flex is a preferred manufacturing partner for many enterprises, dedicated to designing and manufacturing diverse products that make the world a better place. Its business spans over 30 countries worldwide, with strong technical capabilities and rich industry experience.

Crown Technical Systems, on the other hand, is a leading enterprise in the field of comprehensive integrated power distribution and protection systems. Its products are widely used in industries and energy sectors, providing high-quality customized substation components for all major utilities, including relay panels, switchgear, and enclosures. The company has earned a good reputation and widespread recognition in the market with its strong technical strength and rich industry experience.

II. Purpose and Significance of the Acquisition

Flex's acquisition of Crown Technical Systems aims to further enhance its strength in the field of power distribution and protection systems, expand its product lines, and improve market competitiveness. Through this acquisition, Flex will be able to meet customer needs more comprehensively and provide more comprehensive and high-quality electronics manufacturing services. Additionally, the acquisition increases Flex's exposure in rapidly growing, profit-increasing end markets, including the adoption of modular data centers and medium-voltage distribution. The transaction also extends Flex's power product portfolio to the utility power market, strengthens its key power product portfolio, and supports its further growth in the US data center market.

III. Integration and Development After Acquisition

Following the acquisition, Crown Technical Systems will officially become a member of the Flex family and be integrated into Flex's Industrial Business Unit under its Reliability Solutions division. Flex stated that it will fully utilize Crown Technical Systems' technical advantages and industry experience to further enrich and perfect its product lines and provide customers with higher quality and more efficient services.

Furthermore, Flex will continue to increase investment in technology research and development and innovation, continuously enhancing its core competitiveness and market influence. Through the integration with Crown Technical Systems, Flex will be better positioned to meet market challenges, seize development opportunities, and create greater value for global customers.

IV. Future Outlook

This acquisition is an important step for Flex in deepening its business layout and expanding its product lines. As the global electronics manufacturing services industry continues to develop, Flex will continue to adhere to the development philosophy of innovation, pragmatism, and efficiency, continuously improving its technical strength and service level. At the same time, Flex will actively seek cooperation opportunities with more outstanding enterprises to jointly promote the prosperity and development of the electronics manufacturing services industry. In the future, Flex will continue to focus on customers and market demands, continuously innovating and striving for progress. It is believed that with Flex's efforts, it will achieve even more brilliant accomplishments in the field of electronics manufacturing services.

In summary, Flex's completion of the acquisition of Crown Technical Systems is a strategically significant transaction. This acquisition marks the company's further expansion in the field of power solutions, especially in data centers and utility power markets. The acquisition not only strengthens Flex's product portfolio but also lays a solid foundation for its global growth. It is believed that in the future development, Flex will continue to maintain its leading position, providing global customers with higher quality and more efficient electronics manufacturing services.

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