Company expands services for customers across
multiple markets to create additional revenue streams and
accelerate sustainability through second life products
AUSTIN,
Texas, May 31, 2024 /PRNewswire/ -- Flex (NASDAQ:
FLEX) announced today it has acquired FreeFlow, a company serving
global secondary markets with asset disposition and digital
circular economy tracking and reporting capabilities. FreeFlow's
B2B digital marketplace platform enables customers to sell surplus
and returned inventory while protecting primary sales channels. The
addition expands Flex's services for customers across multiple
markets, including data center, enterprise, and lifestyle, to
create additional revenue streams and accelerate sustainability
through second life products.
FreeFlow's digital marketplace platform and offerings bolster
the company's product lifecycle services portfolio spanning
design, supply chain, advanced manufacturing, vertical integration,
post-production, and post-sale capabilities. As part of post-sale
services, the new offering expands existing reverse logistics and
circular economy capabilities, including sustainability analytics,
repair, refurbishment, asset recovery, and recycling.
"The acquisition of FreeFlow reaffirms Flex's commitment to
deliver the highest value to our customers, addressing their
evolving business and sustainability needs across the product
lifecycle while increasing our addressable market," said
Michael Hartung, president of
Agility Solutions at Flex. "This addition further differentiates
our end-to-end services and will enable a wide range of customers,
from cloud to lifestyle, to realize the benefits of second life
products, and ultimately deliver on their environmental
commitments."
Flex plans to expand FreeFlow and digital circular economy
tracking and reporting capabilities into additional industry
segments and major regions to help new and existing customers
securely access secondary markets and drive faster adoption of
sustainable solutions.
About FreeFlow
For more than 20 years, FreeFlow has delivered improved
profitability to the product lifecycle through deep domain
expertise in circularity and a scalable, cloud-based B2B secondary
marketplace for asset disposition, enabling customers to sell
surplus and returned inventory while protecting primary channel
strategies. The company's independently-hosted digital platform
removes the need for IT systems integration and provides a secure
marketplace that gives customers complete control over sales
processes, trading, and reporting.
Most recently, the company added digital circular economy
tracking and reporting capabilities to its portfolio that enable
customers to collect and share product lifecycle information,
enhance decision making about product manufacturing, reuse and
recycling, and report the associated carbon impact.
About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of
choice that helps a diverse customer base design and build products
that improve the world. Through the collective strength of a global
workforce across 30 countries and responsible, sustainable
operations, Flex delivers technology innovation, supply chain, and
manufacturing solutions to diverse industries and end markets.
Contacts
Investors & Analysts
David A. Rubin
Vice President, Investor Relations
(408) 577-4632
David.Rubin@flex.com
Media & Press
Jessica Anderson
Director, Corporate Integrated Marketing and Communications
(408) 577-4789
Jessica.Anderson@flex.com
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SOURCE Flex