BILLERICA, MA — MRSI Systems, a developer and manufacturer of turnkey chip placement and dispensing systems, announced today it has completed a leveraged buyout of assets from parent company Newport Corp. MRSI paid $6 million in the deal, with funding provided by a private investment group comprised of senior leadership, plus Massachusetts Growth Capital and Boston Private Bank & Trust.

MOUNTAIN VIEW, CA – Lenovo will acquire the Motorola Mobility smartphone business from Google for nearly $3 billion, the PC giant announced today. The agreement will significantly strengthen Lenovo’s position in the smartphone market, while enhancing its market presence in North America and Latin America.

SAN JOSE -- Flextronics today announced fiscal third-quarter net income slipped 3.6% to $145.2 million. For the period ended Dec. 31, the EMS company had net sales of $7.2 billion, up 16.7% and exceeding previous company guidance of $6.5 billion to $6.9 billion.

WASHINGTON -- President Obama punctuated his annual State of the Union address last night with another call for greater emphasis on domestic manufacturing. The president used his platform to call for the creation of six new high-tech manufacturing hubs in the US this year.

MANASSAS, VA – Zestron has named Todd Scheerer executive vice president of its America business unit, responsible for business development in the US, Canada and South America. Scheerer has more than 20 years' experience in chemical and materials, the last 10 in technical and commercial global management positions within GE Power & Water. 

HAWTHORNE, CA -- OSI Systems today reported second fiscal quarters ales at its Optoelectronics business unit rose 33% year-over-year to $76.4 million. The unit, which provides components and electronics manufacturing services, helped boost the company's overall net sales 22% over the prior year.

GLENVIEW, IL -- Illinois Tool Works today reported fourth-quarter revenue at its Test & Measurement and Electronics business unit rose 1.2% year-over-year to $559 million. Operating margin rose 250 basis points to 15.7% for the period ended Dec. 31.

SAN JOSE – Sanmina today reported first-quarter revenue for the period ended Dec. 28 of $1.45 billion, down 2.7% compared to the fiscal first quarter of 2013, and down nearly 4% sequentially. Net income for the quarter was $23.1 million, compared to $621,000 for the same period a year ago.

NORTH ANDOVER, MA -- Accent Technologies, a suburban Boston EMS company, has closed its doors.

TORONTO, CANADA -- SMTC will conduct a full physical count of its inventory at the request of its new management following the identification of an overstatement at its EMS operation in Chihuahua, Mexico. SMTC said its financial statements for 2012 and through the first three quarters of 2013 should no longer be relied upon.

SHENZHEN -- Nam Tai today reported fourth-quarter net income of $9.2 million, down 74.7% from a year ago. The company said it will exit the EMS business following the wind down of orders for LCMs at its Shenzhen facility.

TURGI, SWITZERLAND -- Enics has begun administrative procedures as part of a planned layoff of 25 workers here in response to lower industry demand, the EMS company announced. The layoffs will begin in mid February, following completion of the local consultation procedures.