Flex has announced a definitive agreement to acquire EPC Power, a California-based provider of intelligent power conversion solutions for data center and grid applications, for $4.4 billion.
The transaction is expected to close in the fourth quarter of 2026, at which point EPC Power will become part of Flex’s Cloud and Power Infrastructure segment. Flex plans to spin that segment off as an independent publicly traded company in the first quarter of 2027.
EPC Power’s platform is engineered for next-generation 800-volt data center power architectures, which enable more efficient power delivery for higher-density AI infrastructure, with capabilities across rectifiers, DC-DC conversion, and planned development of solid-state transformers.
The company is projected to generate approximately $800 million in revenue in 2026, with organic revenue growth of approximately 40% anticipated in 2027.
“As demand for AI infrastructure accelerates, customers need power systems that are more intelligent, efficient and resilient. Together, we will combine our capabilities and expertise to help customers meet these challenges at scale,” said Jim Fusaro, Chief Executive Officer of EPC Power, in a statement.
Evercore served as lead financial advisor to Flex, with BofA Securities, Citi, and PJT Partners also providing financial advice. Goldman Sachs and J.P. Morgan served as financial advisors to EPC Power.
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