AUSTIN, TX – Flex has entered into a definitive agreement to acquire Crown Technical Systems, a specialist in power distribution and protection systems, for $325 million.

Crown Technical Systems brings nearly three decades of power distribution and control experience, with capabilities in modular solutions, medium voltage switchgear, control and relay products. The company has customers spanning utilities, data centers and power generation, and has facilities in California, Texas, and Canada.

"The addition of Crown Technical Systems strengthens our position to help customers solve power, heat, and scale challenges in the data center space aligned with our long-term growth strategy," said Flex CEO Revathi Advaithi. "This acquisition reaffirms our commitment to differentiate our value through our EMS + Products + Services strategy that will deliver longer-term shareholder value."

"This deal brings together complementary products and teams, marking a superb outcome for Crown's employees and customers," said Norm Siddiqui, president, Crown Technical Systems. "We are excited to join the Flex team and accelerate growth through Flex's global reach and strong presence in markets such as data centers."

Flex said the acquisition increases its exposure to fast-growing markets such as modular data center adoption and medium voltage power distribution, while also extending the company's power portfolio and accelerating its growth in the US data center market.

Crown Technical Systems is expected to generate revenue of approximately $120 million, with the transaction expected to close no later than December 2024, subject to customary closing conditions.