$90.460
-7.382 (-8.16%)At close
FLEX News
FLEX Events
Flex Completes Acquisition of EPC Power
Flex announced that it has completed its acquisition of EPC Power, a provider of intelligent power conversion solutions for data center and grid applications. EPC Power is now part of Flex's Cloud and Power Infrastructure segment, expanding the company's capabilities across power, cooling and compute to address growing demand for higher-density AI infrastructure and next-generation 800V data center power architectures. Flex plans to separate its Cloud and Power Infrastructure segment into an independent publicly traded company, Axiom Solutions International, in the first calendar quarter of 2027.
Flex Expands Modular Data Center Solutions Portfolio
Flex announced an expanded portfolio of prefabricated modular data center solutions designed to accelerate deployment of next-generation AI factories. The portfolio includes new AI Modules that integrate power, high-density compute and advanced liquid cooling into pre-engineered, factory-built systems, enabling customers to reduce deployment timelines by up to 50% compared with traditional construction approaches. The expanded portfolio is part of Flex's Cloud and Power Infrastructure segment, which Flex plans to separate into Axiom, an independent publicly traded company, in the first quarter of calendar 2027.
Flex Enters Agreement to Sell $2B of Convertible Preferred Stock
Flex announced that it has entered into an agreement to sell $2B of shares of Series A Convertible Preferred Stock of Axiom Solutions International, Flex's Cloud and Power Infrastructure segment, to funds affiliated with General Catalyst, Koch Equity Development, and co-investors. Through this strategic investment, Axiom will be positioned to further capitalize on the growing AI infrastructure demand as it prepares to operate as an independent company. Pro-forma for the separation, the investment will be solely in Axiom. As part of the investment, General Catalyst will have the right to nominate one director to Axiom's board of directors, following completion of the separation. The Convertible Preferred Stock pays a dividend of 10.0% per annum in cash prior to the separation, stepping down to 6.0% per annum in cash or 7.0% per annum if paid in kind following the separation, subject to increases after the fifth anniversary of the separation and certain other adjustments.
Notable Gainers Among Liquid Options Include Akamai and Others
Notable gainers among liquid option names this morning include Akamai (AKAM) $119.60 +9.19, Datadog (DDOG) $277.93 +21.01, Jabil Circuit (JBL) $329.29 +18.60, Flex (FLEX) $117.70 +5.30, and Dell Technologies (DELL) $559.80 +23.78.
Flex Unveils Axiom as Independent Cloud Infrastructure Company
Flex unveiled Axiom Solutions as the name of its planned independent Cloud and power infrastructure company and filed its preliminary Form 10 registration statement with the SEC, marking a milestone in the planned spin-off from Flex. Following completion of the planned Spin-Off, Axiom is expected to trade on the Nasdaq under the ticker symbol (AXM). The planned separation is expected to be completed in the first quarter of calendar 2027, subject to customary conditions, including, among other things, final approval by the Flex board of directors, the effectiveness of the Form 10 and Flex shareholder and Singapore High Court approval. Upon completion, Flex and Axiom are expected to operate as independent publicly traded companies. Additional details on each company's strategy will be shared at Innovation Day on November 10 in Austin, Texas.
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.