USI to Acquire AsteelFlash in Largest EMS Deal in 10+ Years

摘要

Universal Scientific Industrial, also known as Huanxu Electronics, has signed a preliminary letter of intent to acquire the parent company of AsteelFlash for $450 million. The deal is expected to close by September. In a filing, Huanxu said it will finance the deal through a combination of new shares and cash. Following the acquisition, which is expected to close in the third quarter of 2020, Asteelflash will become a subsidiary of USI. Asteelflash's existing operations management team will be retained, according to public reports.