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EPC Power Announces Sale to Flex for $4.4 Billion

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EPC Power’s Intelligent Power Conversion Solutions Directly Address the Fundamental Challenges of an Aging U.S. Power Grid Supporting the Energy Demand Supercycle and the AI Era

POWAY, Calif., Sept. 3, 2026 /PRNewswire/ — EPC Power Corp. (“EPC Power”), a leading North American designer and manufacturer of high-performance, software-defined power conversion solutions for data centers, utility-scale energy storage, and microgrids, today announced it has entered into a definitive agreement to be acquired by Flex (NASDAQ: FLEX) for $4.4 billion. The transaction is subject to customary closing conditions, including the receipt of required regulatory approvals, and is expected to close in the fourth quarter of 2026. Building on the two companies’ existing collaboration, EPC Power will become, upon closing, a business within Flex’s Cloud and Power Infrastructure segment.

The transaction brings EPC Power’s differentiated power conversion technology platform to Flex’s broad portfolio of power and thermal management technologies for mission-critical applications. EPC Power’s next-generation 800-volt data center power architectures, including digital rectifiers and solid-state transformers, enable more efficient power delivery for higher-density AI infrastructure and extend leadership with Flex into an integrated grid-to-chip portfolio. The combined company is positioned to help solve one of the most pressing challenges facing the technology and energy industries today: delivering the fast, resilient and secure power that AI data centers need while supporting stable grid operations amid a generational surge in power demand.

“What we accomplished over the last four years demonstrates the power of strong partnerships and a shared commitment to innovation. Together with Goldman Sachs Alternatives and Cleanhill Partners, EPC Power emerged as a U.S. technology leader in power conversion solutions that enable the next generation of data centers, AI computing, and grid modernization. We expanded our domestic manufacturing footprint nearly tenfold, strengthening America’s industrial base and reinforcing the critical role of U.S. innovation in powering the future economy. This is only the beginning of what EPC Power can accomplish,” said Jim Fusaro, Chief Executive Officer of EPC Power.

“This is a landmark moment for EPC Power and every colleague who helped build this company. When we founded EPC Power, we set out to solve the hardest problems in power electronics, and our partnership with Goldman Sachs Alternatives and Cleanhill Partners enabled us to solve those problems for mission-critical infrastructure globally,” added Devin Dilley, Co-Founder, President and Chief Innovation Officer of EPC Power.

Solving the Binding Constraint on AI Infrastructure

Power availability has become the gating factor for data center growth. As AI workloads drive unprecedented increases in power density, resilience and control requirements, operators must address speed-to-power and load volatility, where the rapid, large-swing power draw of AI training and inference clusters can destabilize the local grid.

EPC Power’s technology is purpose-built for these conditions. The company’s solutions, including its Agile Grid Forming™ technology, deliver performance and reliability that enables on-site energy storage, microgrid and grid-support configurations for data centers, which allow operators to energize capacity faster and ride through grid instability. Grid operators and utilities benefit from stronger reliability and power quality across their networks.

“We are immensely proud of our partnership with Jim, Devin and the EPC Power team that saw the company launch new product platforms, increase domestic U.S. manufacturing and partner with customers to solve novel challenges in AI power architecture. EPC Power plays a critical role in supporting grid reliability and speed to power during a period of growing concerns around energy security. We wish Flex and the EPC team continued success during their stage of growth,” said Alexander Mass, Global Co-Head of Energy Transition Investing within Private Equity at Goldman Sachs Alternatives.

“As grid resilience and data center power demand have converged into one of the defining challenges of the next decade, it has been a privilege to support EPC Power’s operational and commercial scale-up into a global platform positioned at the center of those megatrends,” added Eddie Sigman, Investor within Private Equity at Goldman Sachs Alternatives.

“We first invested in EPC Power in 2021 because we believed power conversion would become a critical enabling technology as renewable generation, grid modernization and digital infrastructure converged. That conviction came well before the extraordinary growth in power demand driven by AI. Since then, we have had the privilege of working closely with Jim, Devin and the EPC team as the company grew, expanded its U.S. manufacturing footprint and created high-quality jobs in the U.S. We are proud to have supported EPC from an early stage and, in its next phase, alongside Goldman Sachs Alternatives as the business entered a new period of growth. Seeing what the team has built over the past five years has been incredibly rewarding, and we believe Flex is the right partner for EPC’s next chapter,” said Ash Upadhyaya and Rakesh Wilson, Managing Partners at Cleanhill Partners.

Goldman Sachs & Co. LLC. and J.P. Morgan Securities LLC served as financial advisors, and Vinson & Elkins LLP served as legal counsel, to EPC Power and its controlling shareholders Goldman Sachs Alternatives and Cleanhill Partners.

About EPC Power

EPC Power Corp. (EPC Power) is a power solutions platform that develops high-performance power conversion systems for mission-critical applications, including data centers, utility-scale energy storage, and microgrids. EPC Power’s solutions are designed to deliver reliable, resilient, and secure energy for demanding applications, including AI-driven workloads and grid stability use cases supported by EPC Power’s Agile Grid Forming™ technology. Visit EPCPower.com for more information.

About Flex

Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps leading brands design, build, and manage products that improve the world. With a global footprint spanning 30 countries, Flex delivers advanced manufacturing and supply chain solutions, innovative products and technology, and lifecycle services that support customers from concept to scale. In the AI era, Flex is helping customers accelerate data center deployment by solving power, heat, and scale challenges through cutting-edge power and cooling technology and scalable IT infrastructure solutions. For information about Flex’s intent to spin off its Cloud and Power Infrastructure portfolio, visit: https://flex.com/transaction-resources 

About Private Equity at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $706 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $4.0 trillion in assets under supervision globally as of June 30, 2026.

Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.

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About Cleanhill Partners

Cleanhill Partners is a private equity firm focused on energy transition and digital infrastructure. The firm invests in companies across power generation, energy storage, grid modernization, domestic manufacturing and related technologies that support the growing demand for reliable power.

Cleanhill works closely with management teams to help companies scale and build long-term value. The firm is led by investors and operators with more than two decades of experience across. For more information, visit www.cleanhillpartners.com.

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AI Revenue Questions Pull Semiconductor Stocks Off October Highs

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VANCOUVER, BC, Oct. 10, 2026 /PRNewswire/ — Stock Preachers News Commentary – Semiconductor equities began October on firm footing, with the iShares Semiconductor ETF advancing for five consecutive sessions and the sector’s largest company reaching a record high, before retreating through the week ended October 9. Sentiment shifted on Thursday, when the Financial Times reported that OpenAI had told investors its annualized revenue was nearing $50 billion at the end of September, below the approximately $70 billion figure that had been cited in media reports. Because semiconductor valuations are closely tied to expectations for AI infrastructure spending, the report weighed on the group, and the PHLX Semiconductor Index finished the week lower while the broader market was more resilient. Active Companies from around the markets with current developments this week include: Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM), NVIDIA Corporation (NASDAQ: NVDA), Intel Corporation (NASDAQ: INTC), Arm Holdings plc (NASDAQ: ARM), Micron Technology, Inc. (NASDAQ: MU).

The pullback follows a period of substantial gains. The PHLX Semiconductor Index was up 73% year to date as of late September, and several of the sector’s largest constituents have recorded triple-digit gains in 2026. Higher long-term Treasury yields and a rise in crude oil prices added pressure midweek, as higher discount rates tend to weigh most on companies valued on long-term growth expectations.

Company-specific developments shaped performance within the group. Two companies reported record milestones early in the week, while others faced open questions regarding a manufacturing partnership, ongoing litigation and the sustainability of AI-related demand.

CONTINUED… Read the full weekly market analysis in The Roadmap at: stockpreachers.com

In other industry developments and happenings in the market this week include:

Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM)

TSMC shares reached a record high on October 5 after Elon Musk confirmed early-stage discussions about a role for the company in his planned Terafab chip complex in Texas, calling them “just discussions.” On October 8 the company reported September revenue of NT$511.86 billion, up 54.6% from a year earlier and down 0.6% from August, bringing revenue for the first nine months of 2026 to NT$3.90 trillion, up 41.1%.

NVIDIA Corporation (NASDAQ: NVDA)

NVIDIA shares reached a record high on October 5, bringing their year-to-date gain to approximately 24.8% and their advance since the August 26 earnings report to approximately 14%. The company has also shown relative strength during recent sector weakness: on September 28, when semiconductor shares declined on AI safety concerns, NVIDIA advanced after announcing a $150 billion share buyback authorization and releasing two open-source tools designed to help control AI agents.

Intel Corporation (NASDAQ: INTC)

Intel shares declined on October 5 after Musk indicated that TSMC could participate in Terafab, a project Intel joined as a partner in April. On October 8 Musk said his companies will build and operate the Texas complex and that another chipmaker could at most sublease part of the site. Intel has said it will remain involved, although the scope of its role has not been finalized. Despite the decline, Intel shares were up approximately 215% year to date as of the October 5 close.

Arm Holdings plc (NASDAQ: ARM)

Arm shares declined during a five-day jury trial in federal court in Wilmington, Delaware, where Qualcomm alleges that Arm breached their licensing agreements and sought to undermine Qualcomm’s dealings with Meta Platforms. Arm denies the claims. The case went to the jury on October 9, and the judge has not yet ruled on whether a clause that could let Qualcomm stop paying royalties for five years is enforceable. Arm reports earnings on November 4.

Micron Technology, Inc. (NASDAQ: MU)

Micron shares declined alongside other memory producers despite Rosenblatt raising its price target to $1,900 from $1,500 on October 6, citing a beat-and-raise quarter and the potential for buybacks. Memory producers had advanced with the broader group in early October before sentiment shifted later in the week.

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Church of Scientology International’s Scientology Network Marks World Mental Health Day with CCHR Documentary Marathon

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LOS ANGELES, Oct. 10, 2026 /PRNewswire/ — On World Mental Health Day, October 10, Scientology Network presents a marathon event spotlighting the Citizens Commission on Human Rights (CCHR). The program features CCHR’s mission to expose psychiatric industry corruption and combat human rights abuses.

The World Mental Health Day Marathon on Scientology Network features three CCHR documentaries and Voices for Humanity.

This focus comes at a critical moment, as concerns over the potential links between psychiatric drugs, suicide, aggression and violence have thrust the issue of psychiatric drugging into the public eye.

Founded in 1969, CCHR is a nonprofit mental health watchdog responsible for helping to enact nearly 400 laws protecting individuals from abusive or coercive practices.

The World Mental Health Day Marathon will feature:

CCHR documentaries—an ongoing investigative series confronting powerful psychiatric groups to reveal corruption and the alarming history of abuses. The films included are:Psychiatry: An Industry of Death —An investigation of psychiatry’s dark past.Making a Killing —Examining the “unholy alliance” between the psychiatric industry, Big Pharma and government regulators.Prescription for Violence: Psychiatry’s Deadly Side Effects — Examining the potential link between rising psychiatric drug prescriptions and acts of violence and suicide.Voices for Humanity—the only ongoing television series dedicated to showcasing everyday people leading grassroots efforts to promote human rights, educate youth on the dangers of drugs and combat psychiatric abuse.Documentary Showcase: Letters from Generation Rx—An Award-winning documentary that exposes the dangerous and devastating effects of antidepressants, antipsychotics and other drugs marketed by pharmaceutical companies as “safe and effective.”

The World Mental Health Day Marathon starts October 10 at 8 a.m. ET.

Learn the truth about the psychiatric industry. Visit cchr.org for more information, and see the full marathon schedule at scientology.tv/schedule.

Scientology Network debuted on March 12, 2018, launched by David Miscavige, ecclesiastical leader of the Scientology religion. Since then, Scientology Network has been viewed in over 240 countries and territories worldwide in 17 languages. Satisfying the curiosity of people about Scientology, the network takes viewers across six continents, spotlighting the everyday lives of Scientologists, showing the Church as a global organization and presenting its Social Betterment programs that have touched the lives of millions worldwide. The network also showcases documentaries by independent filmmakers who represent a cross section of cultures and faiths, but share a common purpose of uplifting communities. Scientology Network’s innovative content has been recognized with more than 175 industry awards, including Tellys, Communitas and Hermes Creative Awards.

Broadcast from Scientology Media Productions, the Church’s global media center in Los Angeles, Scientology Network is available on DIRECTV Channel 320, DIRECTV STREAM and AT&T U-verse and can be streamed at scientology.tv, on mobile apps and via the Roku, Amazon Fire and Apple TV platforms.

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Emdoor Information Marks 18 Years of Rugged Computing Excellence with Vertically Integrated Capabilities

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SHENZHEN, China, Oct. 10, 2026 /PRNewswire/ — As industrial automation, smart manufacturing, and field operations increasingly depend on mission-critical mobile computing, global demand for reliable rugged tablets, rugged laptops, and rugged handhelds continues to accelerate. Emdoor Information, a publicly listed company on China’s A-share main board since 2023 and an 18-year veteran in rugged computing, has established itself as a rugged computing solutions provider for industrial customers worldwide. Founded in 2008, the company delivers sustained growth, world-class manufacturing, resilient supply chains, full-stack R&D, and comprehensive lifecycle services. Its rugged computing products and industrial customers now span North America, Latin America, Europe, and Asia-Pacific, serving sectors such as public utilities, intelligent manufacturing, warehouse management, transportation, energy industry.

Financial Strength & Governance: Listed and Well Governed

Emdoor Information’s financial performance reflects the durability of its business model. Listed on China’s A-share main board in 2023, the company reported 2025 revenue of RMB 4.583 billion (approximately USD 640 million), up 44.15% year over year. This growth is driven by disciplined governance and sustained innovation: R&D staff account for over 40% of the workforce, and cumulative R&D investment over the past five years reached RMB 964 million, a compound annual growth rate of 15.9%. As a publicly listed company with transparent reporting, Emdoor Information offers industrial customers and channel partners the governance stability needed for long-term cooperation.

Integrated Manufacturing & Quality: Own Lines, 7.8M Units

Emdoor Information owns its self-built Emdoor Building, which includes corporate offices and a 20,000-square-meter intelligent manufacturing base. The base has four production floors, 15 integrated assembly and testing lines, and an annual capacity of 7.8 million units. Co-locating manufacturing and R&D within the headquarters enables rapid design validation and faster time-to-market. The facility holds ISO five-system certification and uses advanced automation, including AI-powered visual inspection and Manufacturing Execution Systems (MES) for full-process traceability.

The Emdoor Building also houses a reliability testing base backed by tens of millions of RMB in investment, with dedicated labs for waterproofing, drop testing, environmental simulation, and mechanical durability. All rugged tablets, laptops, and handheld terminals undergo rigorous validation against IP ratings and MIL-STD-810 standards, ensuring reliable operation under extreme field conditions.

Supply Chain Resilience: Steady Supply, Controlled Costs

Emdoor Information’s supply chain is anchored by long term partnerships with global semiconductor and technology leaders, including Intel, Qualcomm, and Rockchip. These relationships, recognized by honors such as Intel Premium Partner and Microsoft ODM Strategic Champion, provide early access to platform level technical resources and prioritized supply allocation.

The company centralizes component procurement through its group supply chain management center. With annual procurement in the hundreds of millions of RMB, this approach optimizes hardware Bill of Materials (BOM) costs while maintaining tier one supplier quality. To mitigate volatility, especially in memory and storage, Emdoor maintains strategic bulk inventory and dynamic safety stock across critical materials. This discipline is supported by a rolling finished goods inventory valued at RMB 120 million, enabling delivery of standard configurations in one to three days and customized units in seven to thirty days. As a result, the company ensures stable pricing, controlled cost fluctuations, and protection of customer project margins.

Full Stack R&D & Product Innovation: 100 Models, 5 Platforms, 3 OS

Emdoor Information offers a broad product portfolio: rugged tablets and laptops, rugged handhelds, vehicle mounted computers, and industrial panel PCs from 4 to 21.5 inches. It supports five platforms, Intel, AMD, Qualcomm, MediaTek, and Rockchip, across Windows, Android, and Linux. With nearly 100 models in active production, the company matches precise configurations to industrial scenarios such as quality inspection, intelligent patrol, and edge computing.

These platforms are often specified among the best rugged tablet, laptop, vehicle mount tablet, and industrial panel PC solutions for mission critical operations. A key strength is full stack internal development, covering industrial design, structural engineering, hardware architecture, software integration, and validation testing. All products carry international certifications including CCC, CE, FCC, RoHS, GMS, and UN38.3, plus specialized certifications for hazardous environments and automotive deployments.

On software, devices ship with pre-installed productivity tools such as physical key remapping, kiosk mode, and granular system controls. The integrated Mobile Device Management (MDM) platform enables fleet wide deployment, batch configuration, and remote control. Open SDK and API access for modules like barcode scanning facilitates rapid secondary development and enterprise integration, eliminating the need to build adapter frameworks from scratch. Beyond standard configurations, Emdoor provides rugged devices customization across hardware, software, and structural redesign for specialized operational needs.

Lifecycle Service Excellence: Worldwide Reach, Lasting Alliances

Recognizing that enterprise and industrial computing deployments often operate on lifecycles of five to ten years, Emdoor Information has built a service architecture for long term reliability. It provides repair services in Hong Kong. Technical support is available through a dedicated hotline, official social media, email, and an online support system with full lifecycle traceability from issue submission to resolution.

The company offers structured maintenance training to help customer engineering teams manage devices autonomously. It also operates a continuous feedback mechanism with after sales follow up and annual satisfaction surveys. Insights from frontline customers are integrated into product development, keeping device capabilities and service delivery aligned with field needs. For channel and distribution partners, Emdoor provides market development support including marketing collateral, agent training, industry salons, and trade show facilitation. Sales enablement includes project registration, territorial protection, and flexible inventory allocation, creating a full spectrum collaboration framework from pre sales consultation to long term after sales engagement.

Conclusion

Backed by financial strength & governance, integrated manufacturing & quality, supply chain resilience, full-stack R&D & product innovation and lifecycle service excellence, Emdoor Information has built a global partner network across multiple continents and earned recognition from customers in industrial automation, logistics, transportation, and field service. “Our growth reflects not only market demand but also the strength of our vertically integrated model, from manufacturing and supply chain to R&D and lifecycle services,” said a company spokesperson. Looking ahead, Emdoor Information remains committed to deepening its rugged computing expertise, optimizing product performance and service delivery, and expanding worldwide. Its vision is to become a leading global provider of rugged computing solutions, delivering reliable, mission critical devices for the most demanding environments.

About Emdoor Information

Emdoor Information (SZ: 001314) specializes in providing high-quality rugged mobile computing devices and customized solutions for industry clients worldwide. Its portfolio includes rugged handhelds, rugged tablets, rugged notebooks, vehicle PCs, and industrial panel PCs. For more information, visit www.emdoorrugged.com. Follow us on LinkedIn, YouTube, and Facebook.

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