Artesyn Sells Repair/Logistics Business Unit

December 10, 2001 by Jeff Shepard

Artesyn Technologies Inc. (Boca Raton, FL) announced that it has sold its repair and logistics business unit to Solectron Corp. (Milpitas, CA). The purchase price for the transaction was $33.5 million.

"The sale of the Artesyn Solutions business to Solectron is a solid strategic transaction for both companies," commented Artesyn's president and CEO, Joseph O'Donnell. "Since we acquired the business in 1997, Artesyn Solutions has had a steady record of solid financial performance and customer satisfaction. The combination with Solectron Global Services will provide them with additional resources and opportunities for continued growth."