Flex to Buy Data Center Power Company for $540M

Contract manufacturer Flex agreed to buy power solutions specialist Anord Mardix from private equity firm Bertram Capital for $540 million cash, Flex said Monday. The acquisition, expected to close in Q4, expands Flex’s presence in the data center power market, it said. It’s in keeping with Flex’s recent strategy “to move toward higher margin opportunities in faster growing verticals,” and away from profit-poor consumer tech segments, said CEO Revathi Advaithi.