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Flex to Buy EPC Power for $4.4 Billion

The acquisition brings 800‑VDC and grid‑forming power conversion technology with expanded U.S. manufacturing into Flex’s Cloud and Power Infrastructure unit ahead of a planned early‑2027 spin‑off.

CEO Jim Fusaro, speaking at the opening of EPC Power's 27GW South Carolina facility in July. The plant manufactures equipment, including EPC Power's power inverters and AI data centre environments using the company's proprietary Agile Grid Forming technology. Image: EPC Power
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Overview

  • The companies announced the definitive $4.4 billion deal on Thursday and said the transaction is expected to close in the fourth quarter of 2026 pending regulatory approvals and customary conditions.
  • Flex plans to finance the purchase with a mix of debt and equity while evaluating options and has placed EPC Power inside its Cloud and Power Infrastructure (CPI) segment to be spun off as an independent public company in Q1 2027.
  • EPC Power makes software‑defined power conversion equipment for data centers, energy storage and microgrids, including rectifiers and DC‑DC converters and a reported program to develop solid‑state transformers.
  • The company has rapidly expanded U.S. production, adding a third facility that provides about 27 GW of nameplate capacity rampable to 40 GW and projecting more than 30 GW of U.S. capacity in 2027.
  • Flex and EPC Power say the deal aims to ease power delivery bottlenecks for high‑density AI data centers, strengthen grid resilience and boost domestic supply of key power electronics while the market watches for regulatory clearance and the financing plan.