Flextronics Agrees To Buy Solar-panel Tracker For $245 Million

By MarketWatch Pulse

Electronics manufacturer Flextronics International Ltd. said Tuesday it has agreed to buy NEXTracker, which designs and manufactures solar-panel tracking systems, for about $245 million in cash. The acquisition is expected to close in early December, and contribute between $80 million to $120 million in revenue for Flextronics' December quarter, the company said. Once the deal is completed, NEXTracker will operate as a subsidiary, retaining its existing brand. Shares of Flextronics fell 0.3% in after-hours trading Tuesday after ending the regular session up 2.5%.

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