Feeds

Flextronics sells software biz

Private equity group pays $900m

Top three mobile application threats

Flextronics has sold its software development arm to private equity group Kohlberg Kravis and Roberts for $900m in cash and shares.

KKR will pay $600m in cash and a $250m "face value note with a 10.5 per cent paid-in-kind interest coupon". Flextronics will keep a 15 per cent stake in the firm.

Michael McNamara, CEO at Flextronics, said the deal continued the firm's strategy of focussing on design, vertically-integrated manufacturing services, components and logisitics. It has raised over $1bn selling its chip, networking and software businesses. Flextronics turned over $15.9bn in 2005 offering design services to car makers, engineering firms and technology and other manufacturers.

The deal is expected to close this summer, subject to the usual regulatory approvals.

In other news the Flextronic board has approved a share buy-back scheme of up to $250m.

More from Flextronics' website here.®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.