Flex (FLEX) is up about 3% in Thursday, April 9, 2026 trading, as the market continues to price in the company’s newly announced acquisition of Electrical Power Products (EP²). Flex said it entered a definitive agreement to buy EP² in an all-cash transaction valued at approximately $1.1 billion, with roughly $0.1 billion of anticipated tax benefits. (investors.flex.com)

EP² broadens Flex’s capabilities in critical power equipment tied to grid modernization and electrification—areas that are becoming more central as AI data centers drive demand for power distribution, switchgear, and faster deployment timelines. Flex has also been marketing its AI infrastructure platform and reference designs aimed at shortening build schedules, helping support investor expectations that the company can capture more of the AI data center spending cycle beyond traditional electronics manufacturing. (investors.flex.com)

Flex said the EP² transaction is expected to close in the first quarter of fiscal year 2027 and expects the acquisition to be accretive to earnings per share in the first full fiscal year after close. EP² is expected to generate roughly $323 million of revenue in fiscal year 2026, with double-digit organic growth and a mid-to-high teens adjusted EBITDA margin profile. (investing.com)

With the stock now trading near levels referenced by recent bullish commentary and targets, traders may continue to key off incremental updates on integration plans, closing conditions, and any additional AI-related design wins tied to power and cooling. Near-term catalysts also include further analyst revisions and any company commentary that clarifies how quickly Critical Power demand is translating into sustained margin expansion and cash generation. (investing.com)