SAN JOSE -- Flextronics has entered into a definitive agreement to acquire Stellar Microelectronics, a full-service electronics manufacturing services provider specializing in medical and military production.

Financial terms were not announced. The transaction is expected to close by the end of April, subject to certain conditions.

Valencia, CA-based Stellar focus on the aerospace, defense and medical manufacturing markets and has an annual revenue run rate just under $100 million.

"We are very pleased to announce this agreement with Stellar Microelectronics," said Paul Humphries, group president of Flextronics High Reliability Solutions. "This acquisition underscores Flextronics' strategic commitment to expand our service offering in the aerospace, defense and medical markets, and we believe the combined companies will strengthen the services we can provide our customers in this space. We look forward to adding Stellar Microelectronics' employees and industry-leading customers to the organization."

Prior to the announcement, Flextronics already had booked $300 million worth of new business in automotive, medical and military products in the first three quarters of its fiscal year, and expects that business to grow more than 15% in the next fiscal year, COO Paul Read said at a Goldman Sachs investors conference last month.

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