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Flextronics Acquires Avail

By: Jennifer Whitney

Editor

Singapore’s Flextronics International Ltd. said Thursday it acquired U.S. device maker Avail Medical Products Inc. to expand its medical reach. Terms of the deal, expected to close before the end of the calendar year, were not disclosed. Flextronics, a global provider of electronics manufacturing services to equipment makers, said it expects the deal to be neutral to the earnings-per-share guidance for all periods the company previously provided. Earlier this week, European Union antitrust regulators approved Flextronics’ $3.6 billion acquisition of U.S.-based Solectron Corp. Flextronics said in a press release Thursday that the pending Solectron deal and Avail purchase will “significantly broaden Flextronics Medical segment’s offerings, and establish Flextronics as a leading supplier and partner for the medical industry.” Privately held Avail, based in Fort Worth, Texas, focuses on the outsourced development and manufacture of sterile and single-use medical devices for medical device makers. The company expects 2007 sales of about $250 million. Shares of Flextronics rose 11 cents to $11.29 in morning trade. Its stock has traded between $10.64 and $13.26 over the past year.

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