"We are very pleased to announce this transaction with Telmar," said Hartmut Liebel, Executive Vice President and CEO of Jabil Aftermarket Services. "This acquisition supports Jabil's strategic commitment to expand our Diversified Manufacturing Services segment and we believe our combined forces will strengthen the depth and scope of Jabil's Aftermarket Services business."

"We are excited about joining forces with Jabil, a global industry leader in aftermarket services," said Steven Pickett, CEO and President of Telmar Network Technology. "We believe the combination will further our ability to uniquely fulfill critical services and increase operational efficiency for our customers through what will now be a broader end-to-end network maintenance services portfolio."

Completion of the transaction, which is subject to regulatory clearance and customary conditions, is expected to take place by November. Jabil indicated that the acquisition will be accretive to earnings and said the company would provide further details during its fourth quarter earnings call in September.