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."
