- Flex unveiled Axiom Solutions International Inc. as the name of the cloud and power infrastructure business it plans to spin off into a standalone public company trading on Nasdaq under AXM.
- Flex filed a preliminary Form 10 registration statement covering Axiom's business, strategy, financial profile, leadership team and anticipated separation terms, and expects to complete the spin-off in Q1 calendar 2027.
- Axiom combines power, thermal management and computing systems at the system level to serve AI and data center infrastructure demand.
- Completion remains subject to final Flex board approval, Form 10 effectiveness, Flex shareholder approval and Singapore High Court approval.
- Flex named Amy B. Schwetz as CFO of its Regulated Manufacturing Services and Integrated Technology Services segments effective Oct. 5, with the expectation she becomes Flex CFO after the separation; George R. Oliver and Brian Yoor are slated for the Flex board, Mark Eubanks and David Johnson for Axiom's.
- Flex shares traded slightly lower with the Nasdaq down 0.53% and the S&P 500 down 0.48%; the stock sits 11.9% above its 200-day SMA but 2.5% below its 20-day SMA and 8.9% below its 50-day SMA, with resistance near $116 and support near $105.
Quotes
“Axiom is built to lead the next generation of critical digital and electrical infrastructure”
“By bringing together power, thermal management and compute at the system level, we help customers deploy increasingly complex infrastructure with greater speed and scale, as AI drives new demands on the physical infrastructure behind it.”