Flextronics Completes Acquisition Of CEAG’s FRIWO Mobile Power Business Unit
Flextronics announced that it has completed its previously announced acquisition of the FRIWO Mobile Power (FMP) business unit of CEAG AG, a manufacturer of power supplies and chargers for mobile telephones. FMP is now part of Flextronics’ power supply division.
"The acquisition of the FRIWO Mobile Power Business unit substantially expands our power supply capability and we expect to be one of the top power supply companies within the next 18 months," said Bob Roohparvar, President of Vista Point Technologies. "This acquisition broadens our relationships with mobile phone OEMS, enhances our global reach and adds vertical integration capabilities such as magnetic (transformer) manufacturing. On behalf of Flextronics, I would like to welcome the FMP team to our organization."
The acquisition will add approximately 18,000 employees and 700,000 square feet of manufacturing capacity in China.
The provisional purchase price for the FMP business unit totals around €56 million. The final purchase price will be determined in accordance with the closing balance sheet of the FMP business unit as of April 30, 2008.
Following the sale of FMP, CEAG AG states that it will focus on developing the FRIWO Power Solutions (FPS) business unit. FPS supplies the IT and communications, household appliances and power tools, industrial applications and medical technology markets with custom-made power supplies and chargers as well as with standard products.
