09:42 AM EDT, 10/17/2024 (MT Newswires) -- Flex (FLEX) said Thursday it signed a definitive deal to acquire Crown Technical Systems, which specializes in power distribution and protection systems, for $325 million in cash.

The company said the acquisition will expand its power portfolio and increase its exposure to "margin accretive end-markets" such as modular data center adoption and medium voltage power distribution.

Crown Technical Systems is expected to generate about $120 million in revenue for the fiscal year 2025 ending March 31, 2025 and the acquisition is anticipated to be accretive in the first year after closing, which is expected by December, the company said

Flex shares were 1% higher in early trading.

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