On September 7, Flex, a global electronics manufacturing services giant, announced a definitive merger agreement to acquire EPC Power, a power conversion solution provider, for USD 4.4 billion. The deal targets booming power infrastructure demands from AI data centers and paves the way for the spin-off and IPO of its Cloud & Power Infrastructure (CPI) division.

The transaction will be settled via cash and equity, expected to close in Q4 2026. EPC Power will be integrated into Flex’s CPI business, which Flex plans to spin off into an independent listed firm in Q1 2027.

EPC Power develops power conversion systems built for next-generation 800V data center architectures, delivering high-efficiency power supply for high-density AI infrastructure. Its solutions cover digital rectifiers, DC-DC conversion and solid-state transformers, integrating energy storage and microgrids.

With surging power consumption of AI server racks, power supply has become a core bottleneck restricting AI capacity expansion. This acquisition transforms Flex from a pure EMS provider into an integrated system supplier offering end-to-end power solutions “from grid to chip”.

#ICGOODFIND supplies power management chips, power devices and semiconductor components, offering BOM kitting and chip procurement services to hardware manufacturers for AI equipment production.