DETROIT (Updated Dec. 4, 2:50 p.m. ET) — Singapore-based electronics firm Flextronics International Ltd. announced today it acquired Rochester Hills-based Saturn Electronics & Engineering Inc.
Terms of the deal were not announced.
Saturn Electronics supplies solenoids and wiring harnesses to the automotive industry and others. Roughly 70 percent of its business comes from the auto industry.
The firm generated revenue of $289.6 million in 2011. As of Jan. 1, it employed 1,958 — 66 local full-time employees and 231 throughout Michigan.
The company has six locations. In addition to the headquarters, they are in Coopersville, Mich., Mexico (2), the Philippines and China.
It's unclear whether all of those locations will remain open under Flextronics.
“Flextronics’ global presence and stability, along with its commitment to the markets where we operate, make this a perfect fit for the Saturn team,” Gary Lawrey, president and CEO of Saturn Electronics. “Flextronics' supply chain expertise, vertical integration capabilities and global scale will provide great benefit to our customers in terms of increased speed to market and lower cost solutions.”
Flextronics manufactures electronics and solenoids to many companies, including many in Microsoft's product line, such as the Xbox 360 and Zone.
In automotive, Flextronics supplies products and services for lighting, interior, power electronics and connectivity.
The deal is likely to expand Flextronics' access into the industry.
However, Saturn Electronics enjoys preferred status with suppliers and automakers as a minority-owned business, as Wally Tsuha, its founder and chairman, is a Hawaiian-born Asian-American. What will happen to that status under Flextronics is unclear.