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Power · Evidence brief

Flex agrees to acquire EPC Power for $4.4B

Flex + EPC Power

Primary sourcePress release only2026-09-03
Deal structurePower-conversion technology acquisition
GeographyUnited States / global deployments
Infrastructure layersPower conversion + electrical infrastructure + AI servers
Disclosed scale$4.4B transaction value, subject to customary adjustments

Why it matters

The strategic read

Adds power conversion and grid-forming technology to Flex’s AI infrastructure portfolio as rack architectures move toward 800V. EPC Power’s rectifiers and DC-DC conversion address high-density GPU power delivery; solid-state transformers remain planned development.

Source-supported terms

What was disclosed

  1. 01

    Flex entered a definitive agreement to acquire EPC Power for $4.4 billion, subject to customary adjustments.

  2. 02

    Closing is expected in calendar Q4 2026, subject to regulatory approvals and customary conditions.

  3. 03

    EPC Power would join Flex’s Cloud and Power Infrastructure segment; Flex plans to separate that segment in calendar Q1 2027.

  4. 04

    EPC Power has more than 15 GW deployed across 62 countries; annual U.S. manufacturing capacity is expected to exceed 30 GW in 2027.

  5. 05

    Flex expects to use a combination of debt and equity; Citi and Bank of America are providing committed transaction financing.

Disclosure boundary

What is known—and what is not

Definitive acquisition agreement announced September 3, 2026; an older source newly added to the Deal Room, not a new September 8 announcement. Acquisition and planned CPI separation are not completed. Purchase-agreement text, final financing mix and remedies are not disclosed in the release.