In a decisive move to expand its presence in the data center and utility power sectors, Flex (NASDAQ: FLEX) will acquire Crown Technical Systems for $325 million in cash.<\/p>\n
This acquisition directly aligns with Flex\u2019s long-term strategy to grow its power distribution and protection capabilities, especially as demand for scalable power solutions in the U.S. data center market continues to rise.<\/p>\n
Crown Technical Systems, with nearly 30 years of experience, brings expertise in medium voltage switchgear and modular power solutions. The company serves key clients in utilities, data centers, and power generation, which has helped it build a reputation as a trusted partner in critical infrastructure.<\/p>\n
By integrating Crown\u2019s advanced technologies, Flex aims to more effectively address power distribution challenges, including heat management and system protection\u2014both vital for modern data centers.<\/p>\n
Furthermore, Flex CEO Revathi Advaithi highlighted the acquisition’s importance in tackling these growing challenges. “This deal reinforces our commitment to delivering end-to-end power solutions while creating long-term value for our shareholders,” Advaithi explained.<\/p>\n
In addition, Crown Technical Systems’ President Norm Siddiqui praised the merger, noting that joining Flex will allow Crown to leverage Flex’s global reach and expand into new markets, particularly data centers. “This is a win for both companies,” Siddiqui remarked.<\/p>\n
Ultimately, Crown\u2019s integration will strengthen Flex\u2019s position in the modular data center industry and help it tap into the growing utility power market, driven by trends such as grid modernization and increased energy production. Crown expects to generate $120 million in sales by 2025, which will further accelerate Flex’s growth in these high-demand sectors.<\/p>\n
The companies expect the deal to close by December 2024, pending regulatory approval.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a decisive move to expand its presence in the data center and utility power sectors, Flex (NASDAQ: FLEX) will acquire Crown Technical Systems for $325 million in cash. This acquisition directly aligns with Flex\u2019s long-term strategy to grow its power distribution and protection capabilities, especially as demand for scalable power solutions in the U.S. […]<\/p>\n","protected":false},"author":20624,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[2580,63,2581,2584,2582,2583],"class_list":["post-4830","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-crown-technical-systems","tag-data-center","tag-flex","tag-norm-siddiqui","tag-power-solutions","tag-revathi-advaithi"],"acf":[],"yoast_head":"\n