Flex buys EPC Power for $4.4B

Flex said on September 3 that it had agreed to acquire EPC Power for $4.4 billion, in a deal aimed at expanding its power-conversion offerings for AI data centers and grid applications. The transaction, announced by Flex and EPC Power in separate statements, is expected to close in the fourth quarter of calendar 2026, subject to customary conditions. EPC Power is a North American designer and manufacturer of software-defined power-conversion systems used in data centers, utility-scale energy storage and microgrids, according to the companies. Flex said EPC Power would become part of its Cloud and Power Infrastructure segment when the deal closes. (investors.flex.com) ### What exactly is Flex buying? EPC Power said on September 3 that it had entered a definitive agreement to be acquired by Flex for $4.4 billion. The company described itself as a supplier of high-performance power-conversion systems with products spanning data centers, energy storage and microgrids. Flex said the acquisition adds “leading power conversion capabilities” for AI data centers and grid applications. (investors.flex.com) The company said EPC Power’s technology includes next-generation 800-volt data-center power architectures, digital rectifiers and solid-state transformers. (epcpower.com) ### Why does the 800-volt detail matter in this deal? Flex said the acquisition is meant to help it “capitalize on growing AI infrastructure demand and the shift to next generation 800V data center power architectures.” EPC Power separately said its 800-volt architectures are designed to deliver more efficient power for higher-density AI infrastructure. (investors.flex.com) EPC Power’s data-center materials say its systems are built to stabilize volatile AI loads, protect processing infrastructure from voltage swings and support utility interconnection. Those claims help explain why Flex tied the acquisition to both data-center demand and grid applications, rather than to server hardware alone. ### Was the manufacturing-capacity figure in the social post correct? (investors.flex.com) EPC Power’s website says the company has “annual capacity >40GW” across U.S. manufacturing facilities in California and South Carolina. That is higher than the 30-gigawatt by-2027 figure cited in the social thread referenced in the card materials. A July 2026 EPC Power announcement said a new 167,000-square-foot South Carolina facility nearly tripled production capacity and became the company’s second site in the state and third overall. (epcpower.com) The company said that expansion was intended to meet rising demand tied to AI data-center infrastructure as well as grid and energy-stability applications. (epcpower.com) ### How does this fit into Flex’s broader power push? Flex said EPC Power would join its Cloud and Power Infrastructure business, which the company plans to separate into an independent publicly traded company in the first quarter of calendar 2027. The company also said the acquisition is expected to enhance the growth and EBITDA margin profile of that segment. (epcpower.com) March 30 brought another power deal from Flex, when it announced an agreement to acquire Electrical Power Products for about $1.1 billion. Flex said that earlier transaction expanded its critical-power portfolio and added a Midwest manufacturing footprint serving utility, industrial and data-center customers. (investors.flex.com) ### What happens next? The fourth quarter of 2026 is the target closing window for the EPC Power transaction, according to Flex and EPC Power. Flex has also said it plans to separate its Cloud and Power Infrastructure segment in the first quarter of 2027, a step that would place the acquired EPC Power business inside that unit if the deal closes on schedule. (investors.flex.com 1) (investors.flex.com 2)