SINGAPORE—Electronics manufacturing services company Flextronics said it will score more than $550 million in upfront cash payments from the sale of its network and semiconductor businesses. AMIS Holdings Inc. will buy the company’s semiconductor business, and as previously announced Telavie AS will buy its network services business. Altor 2003 Fund, a Nordic private equity firm, owns Telavie.
“I am thrilled to announce we have finalized our FNS deal with Altor, and that we have found a perfect fit with AMI as the company to purchase our semiconductor division,” said Michael Marks, Flextronics’ chief executive officer. “These transactions allow Flextronics to concentrate its efforts and resources on the core EMS business, which includes design, vertically integrated manufacturing services and logistics, in order to deliver the services that best meet our customers’ needs.”
