FLEX acquisition history

Flextronics (now Flex) acquired 100% of the outstanding share capital of Mirror Controls International, a supplier of electronic actuation and mechatronics systems for the automotive market. The deal added $75.5 million in customer-related intangibles and $161.3 million in licenses and other intangibles, with total aggregate purchase price recorded at $555.2 million. approximately $555.2 million, net of $27.7 million of cash acquired.

This acquisition expanded the Company's capabilities in the automotive market, and was included in the HRS segment.Flextronics International FY16 10-K — Business and Asset Acquisitions note

Flextronics acquired 100% of the outstanding share capital of NEXTracker, a Fremont, California provider of smart solar tracking solutions whose single-axis photovoltaic trackers orient PV panels to maximize energy output. Flex also assumed NEXTracker's equity incentive plan. NEXTracker continued under founder-CEO Dan Shugar and was later spun off via IPO and full separation in 2023-2024. approximately $240.8 million initial cash (net of $13.2M cash acquired) plus up to ~$81.0M contingent consideration; total purchase consideration $321.8 million (announced as up to $330 million).

This acquisition aligns well with our strategy of acquiring technologies that deliver innovative, value-added solutions to our customers in industries with strong growth rates and higher margins.Mike McNamara — CEO, Flex

Joining Flex will enable NEXTracker to accelerate its growth while leveraging our best-in-class, innovative technologies, and a shared passion for advancing the future of renewable energy.Dan Shugar — Chairman and CEO, NEXTracker

Flextronics acquired an optical transport facility from Alcatel-Lucent, acquiring primarily $55.1 million of inventory and $10.0 million of property and equipment (a building and land), plus a $3.6 million customer-relationship intangible. The deal expanded Flex's capabilities in the telecom market. approximately $67.5 million.

On July 1, 2015, the Company acquired an optical transport facility from Alcatel-Lucent for approximately $67.5 million, which expanded its capabilities in the telecom market and was included in the CEC segment.Flextronics International FY16 10-K — Business and Asset Acquisitions note

Flex acquired AGM Automotive, expanding its capabilities in the automotive market. Purchase consideration was $213.7 million, comprising $56.4 million net tangible assets, $82.0 million purchased intangibles (solely customer relationships, amortized over ~10 years) and $75.3 million goodwill. approximately $213.7 million, net of cash acquired.

In April 2017, the Company completed its acquisition of AGM, which expanded its capabilities in the automotive market, and is included within the HRS segment. The Company paid $213.7 million, net of cash acquired.Flex FY18 10-K — Business and Asset Acquisitions & Divestitures note

In September 2017 Flex acquired a power modules business that expanded its capabilities within the CEC segment. Purchase consideration of $54.7 million included $11.6 million net tangible assets, $33.3 million purchased intangibles ($16.0 million customer relationships) and $9.7 million goodwill. approximately $54.7 million, net of cash acquired.

Additionally, in September 2017, the Company acquired a power modules business, which expanded its capabilities within the CEC segment. The Company paid $54.7 million, net of cash acquired.Flex FY18 10-K — Business and Asset Acquisitions & Divestitures note

Flex acquired Anord Mardix, a global leader in critical power solutions, from private equity firm Bertram Capital. Anord Mardix was established in 2018 from the combination of Anord Control Systems and Mardix and offers switchgear, busway, power distribution and modular power systems plus monitoring solutions and services. The acquisition expands Flex's offering in the data center market.

This acquisition builds on Flex's previously articulated strategy to move toward higher margin opportunities in faster growing verticals in our Reliability business. With Anord Mardix, Flex's business will be better positioned to capture rising global demand for data center power solutions.Revathi Advaithi — CEO, Flex

Anord Mardix primarily markets critical power directly to data center operators. By joining Flex, we will be able to build out Anord Mardix's comprehensive range of end-to-end power systems for critical data facilities, leveraging Flex's expertise and efficiencies in advanced manufacturing and global supply chain.James Peacock — Managing Director, Anord Mardix

Flex acquired Crown Technical Systems, a leader in custom-engineered, fully integrated power distribution and protection systems with nearly three decades of capabilities in modular solutions, medium voltage switchgear, control and relay products, serving utilities, data centers and power generation. Facilities span California, Texas and Canada.

The addition of Crown Technical Systems strengthens our position to help customers solve power, heat, and scale challenges in the data center space aligned with our long-term growth strategy. This acquisition reaffirms our commitment to differentiate our value through our EMS + Products + Services strategy that will deliver longer-term shareholder value.Revathi Advaithi — CEO, Flex

This deal brings together complementary products and teams, marking a superb outcome for Crown's employees and customers. We are excited to join the Flex team and accelerate growth through Flex's global reach and strong presence in markets such as data centers.Norm Siddiqui — President, Crown Technical Systems