SINGAPORE (dpa-AFX) - Flex (FLEX) said it has agreed to acquire EPC Power at a value of $4.4 billion, expanding its power conversion capabilities for AI data centers and grid applications.
EPC Power, which is expected to become part of Flex's Cloud and Power Infrastructure (CPI) segment, provides power conversion solutions including grid-forming technology and systems designed for next-generation 800V data center architectures. The transaction is expected to close in the fourth quarter of 2026.
Founded in 2010, EPC Power has more than 15 GW deployed across 62 countries, while its annual U.S. manufacturing capacity is expected to exceed 30 GW in 2027. Its technology spans rectifiers, DC-DC conversion and planned solid-state transformers.
EPC Power is expected to generate approximately $800 million in 2026 revenue, with organic revenue growth of about 40% expected in 2027. Its EBITDA margin is projected to expand by double-digit percentage points to approximately 30% in 2027.
Flex plans to separate CPI into an independent publicly traded company in the first quarter of 2027. The company is evaluating financing alternatives and expects to fund the acquisition through a combination of debt and equity.
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