Fabrinet Acquires Exception Global CEM Solutions
BANGKOK – Fabrinet acquired UK-based Exception Global CEM Solutions for approximately $13.5 million in cash.
Exception provides contract electronics manufacturing services, with approximately 80% of its revenue derived from customers in Europe.
“Fabrinet has enjoyed exceptional growth over the past several years, primarily with customers in the US and Japan, and there are tremendous opportunities for growing our business in Europe,” said Tom Mitchell, chairman and CEO. “With this acquisition, we are establishing a strong foothold in Europe, which will allow us to grow our business with European customers, and give them access to our advanced low-cost manufacturing services in Thailand, particularly in our new facility in Chonburi that is coming online and ramping in the next several months.”
Fabrinet anticipates the transaction will have an immaterial impact on revenue and net income in the first quarter of fiscal 2017.
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