Flex announces spin-off of $6.6B data center unit, acquires EPP for $1.1B, draws $1.45B loan

Filed May 20, 2026 · Period ending March 31, 2026 · Compared to 10-K May 21, 2025 · ~2 min read

Key Changes

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  Flex will separate Cloud and Power Infrastructure segment (38% revenue growth, now $6.6B annually) into standalone public company by Q1 2027, subject to board, shareholder, and Singapore court approval.

  Business: planned spin-off announcement verify on EDGAR →
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  Acquired Electrical Power Products for $1.1B cash on May 1, 2026, funded by new $1.45B 364-day credit facility that must be refinanced or repaid within one year.

  Notes: EPP acquisition and new credit facility verify on EDGAR →
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  Issued warrant to Amazon for up to 3.86M shares at $51.29, vesting based on Amazon's purchases over five years; expense recorded as revenue reduction as Amazon buys products.

  MD&A: Amazon warrant issuance verify on EDGAR →