VELIKO TURNOVO, BULGARIA -- AQ Group has signed an agreement with Zlaten Lev Holding to buy 94.6% of Bulgarian ODM Carat Electronics. The all-cash deal is valued at €1.58 million and will close July 1, the companies said.

TAIPEI -- Foxconn Electronics' (Hon Hai) consolidated revenues fell 9% sequentially and 10.8% year-over-year in May, the company said. For the month, revenue totalted NT$267.97 billion ($8.89 billion) as demand lagged for PCs and consumer electronics.

MINNEAPOLIS -- The head of Cisco's supply chain operations will keynote this fall's SMTAI conference. Jeff Gallinat, senior vice president of Cisco Supply Chain Operations, will share the importance of an Internet of Everything approach that delivers more value to companies than just the Internet of Things.

WASHINGTON, DC – Members of IPC are calling on Congress to pass a new bill calling for the establishment a National Network for Manufacturing Innovation (NNMI).