SINGAPORE-Electronics manufacturing and design services provider Flextronics International Ltd. and Chatham Technologies Inc., an integrated electronic packaging systems supplier to the communications industry, signed a definitive merger agreement for a tax-free, stock-for-stock merger.
The merger agreement provides that Flextronics will issue a total of up to 8.3 million ordinary shares in exchange for all of Chatham’s outstanding stock, warrants and options.
Chatham will become a part of the newly formed Flextronics Enclosure business unit. Ross Manire, chief executive officer of Chicago-based Chatham, will serve as president of Flextronics Enclosures.
The merger is expected to close by the end of August.
