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Electronics Production | April 18, 2006

Flextronics sells its software development

Flextronics is now selling off a majority stake in its software development business to private-equity firm Kohlberg Kravis for $900 million.
"The transaction is the continuation of our previously announced strategy of focusing on the reacceleration of significant growth opportunities in our core EMS business, which includes design, vertically-integrated manufacturing services, components and logistics", Flextronics CEO Michael McNamara told Circuitsassembly.
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