FLEX LTD. acquires BrightBox Technologies

FLEX LTD. acquired BrightBox Technologies (terms not disclosed), a transaction announced in August 2016.

BrightBox Technologies operates in Industrial & Emerging Industries (IEI) - Energy/Solar (via NEXTracker), is based in Berkeley, California, USA. NEXTracker, then a Flex subsidiary, acquired BrightBox Technologies, a Berkeley, California developer of predictive modeling software and machine-learning technologies. The acquisition added advanced diagnostics and real-time control capabilities to NEXTracker's solar tracking systems, including cofounders Allan Daly and Dr. Francesco Borrelli.

Expanded NEXTracker's technology leadership with first-mover capability for advanced diagnostics and real-time control of solar tracking systems, accelerating commissioning time and increasing energy yield.

Software/ML capability to optimize energy yield and lower deployment cost of NEXTracker systems. Integrated with Flex's Connected Intelligence platform for predictive control across NEXTracker's >4 GW global fleet. NEXTracker (Flex IEI segment subsidiary)

This acquisition amplifies NEXTracker's software engineering resources, including the addition of cofounders Allan Daly and Dr. Francesco Borrelli.Dan Shugar, CEO, NEXTracker

Advisory firms were not disclosed for this transaction.

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