Nolan’s Notes: Finding Your Sweet Spot
Standard of Excellence: Delivering Excellence—A Daily Goal
Knocking Down the Bone Pile: Tin Whisker Mitigation in Aerospace Applications, Part 3
Flex to Acquire Crown Technical Systems
October 21, 2024 | FlexEstimated reading time: 1 minute
Flex announced that it has entered into a definitive agreement to acquire Crown Technical Systems, a leader in fully integrated power distribution and protection systems, for $325 million in an all-cash transaction. The transaction is expected to be accretive in the first year after closure.
Crown Technical Systems brings nearly three decades of solving the most pressing power distribution and control challenges, with extensive capabilities in modular solutions, medium voltage switchgear, control, and relay products. Crown Technical Systems has a diverse set of long-standing customers spanning utilities, data centers, and power generation, with facilities in 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," said Revathi Advaithi, Chief Executive Officer of Flex. "This acquisition reaffirms our commitment to differentiate our value through our EMS + Products + Services strategy that will deliver longer-term shareholder value."
"This deal brings together complementary products and teams, marking a superb outcome for Crown's employees and customers," said Norm Siddiqui, President, Crown Technical Systems. "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."
This acquisition further increases Flex exposure to fast-growing, margin accretive end-markets including modular data center adoption and medium voltage power distribution. It also extends Flex's power portfolio into the utility power market, supported by long-term trends in grid modernization and energy generation growth. At the same time, the acquisition strengthens Flex's critical power portfolio and accelerates our growth in the U.S. data center market.
Crown Technical Systems is expected to generate revenue of approximately $120 million and high-teens EBITDA margin in fiscal 2025, which ends on March 31, 2025. The transaction is expected to close no later than December 2024, subject to customary closing conditions, including regulatory approval.
Flex management will further discuss the acquisition on its upcoming earnings call on Wednesday, October 30, 2024, at 7:30 a.m. Central Time, 8:30 a.m. Eastern Time.
Share on:
Suggested Items
Maxar Awarded Contract by NGA to Deliver Ai-Powered Object Detection Services
07/01/2025 | MaxarMaxar Intelligence, the leading provider of secure, precise geospatial insights, announced that it was awarded Delivery Order 01 under the Luno A program by the National Geospatial-Intelligence Agency (NGA).
Empower Appoints Steve Hertog as Senior Vice President of Sales to Strengthen Next Phase of High Growth
07/01/2025 | Empower SemiconductorEmpower Semiconductor, the world leader in integrated voltage regulators (IVRs), announced the appointment of Steve Hertog as Senior Vice President of Sales. In this role,
OKI, NTT Innovative Devices Establish Mass Production Technology for High-Power Terahertz Devices by Heterogeneous Material Bonding
06/21/2025 | BUSINESS WIREOKI, in collaboration with NTT Innovative Devices Corporation, has established mass production technology for high-power terahertz devices using crystal film bonding (CFB) technology for heterogeneous material bonding to bond indium phosphide (InP)-based uni-traveling carrier photodiodes (UTC-PD) onto silicon carbide (SiC) with excellent heat dissipation characteristics for improved bonding yields.
Cadence AI Autorouter May Transform the Landscape
06/19/2025 | Andy Shaughnessy, Design007 MagazinePatrick Davis, product management director with Cadence Design Systems, discusses advancements in autorouting technology, including AI. He emphasizes a holistic approach that enhances placement and power distribution before routing. He points out that younger engineers seem more likely to embrace autorouting, while the veteran designers are still wary of giving up too much control. Will AI help autorouters finally gain industry-wide acceptance?
Nordic Semiconductor Accelerates Edge AI Leadership with Acquisition of Neuton.AI
06/18/2025 | PRNewswireNordic Semiconductor, the global leader in ultra-low-power wireless connectivity solutions, today announced its acquisition of the intellectual property and core technology assets of Neuton.AI, a pioneer in fully automated TinyML solutions for edge devices.