Flex (FLEX) said Wednesday it has closed its $325 million all-cash purchase of power distribution products manufacturer Crown Technical Systems to support its expansion into the utility power market.
The company said Crown is expected to produce revenue for the fiscal year ending March 31 of $120 million and high-teens earnings before interest, taxes, depreciation and amortization margin.
Shares of Flex were up nearly 7% in early Wednesday trading.
Price: 39.80, Change: +2.47, Percent Change: +6.62
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