DUNDALK, IRELAND – Flex acquired Anord Mardix in a $540 million all-cash transaction. The acquisition adds to Flex's power products and expands its offering in the data center market.

Anord Mardix is expected to see approximately $360 million in revenue for 2021. The company will be included in the Industrial business unit of Flex's Reliability Solutions segment.

The firm offers switchgear, busway, power distribution and modular power systems, along with monitoring solutions and services.

"This acquisition builds on Flex's previously articulated strategy to move toward higher margin opportunities in faster growing verticals in our Reliability business," said Flex CEO Revathi Advaithi. "With Anord Mardix, Flex's business will be better positioned to capture rising global demand for data center power solutions."

The acquisition is expected to close in the fourth quarter of 2021.