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Singapore company buying U.S. firm

March 13, 2012 at 12:22 PM
SINGAPORE, March 13 (UPI) -- A Singapore electronics manufacturer for defense and aerospace is acquiring Stellar Microelectronics of Valencia, Calif.

"We are very pleased to announce this agreement with Stellar Microelectronics," said Paul Humphries, group president of Flextronics High Reliability Solutions. "This acquisition underscores Flextronics' strategic commitment to expand our service offering in the aerospace, defense and medical markets and we believe the combined companies will strengthen the services we can provide our customers in this space.

"We look forward to adding Stellar Microelectronics' employees and industry-leading customers to the organization."

Stellar Microelectronics specializes in advanced custom packaging solutions using micro-electronics technologies for the aerospace, defense and medical manufacturing markets. Flextronics said its acquisition will increase its service offering to include microelectronic design and manufacturing services for customers with U.S. manufacturing requirements.

Closing of the deal is expected to occur in late April. Details of monetary arrangements involved weren't disclosed.

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