Celestica acquires PCI Limited to expand capabilities in key markets
September 27, 2021 by Manufacturing AUTOMATION
Celestica has announced it is acquiring Singapore-based PCI Limited for $306 million. PCI is a fully integrated design, engineering and manufacturing solutions provider. It has five manufacturing and design facilities across Asia.
With this acquisition, Celestica expects to strengthen its engineering-focused engagements. This includes full product development in telematics, human machine interface (HMI), IoT and embedded systems.
Rob Mionis, president and CEO of Celestica, said, “This acquisition is intended to help us to further diversify our customer base and expand our ATS portfolio with high-growth programs. PCI is also expected to add strong annual revenue and cash flow generation that enhances our financial profile and outlook for 2022 and beyond.”
Celestica expects to gain over 20 blue-chip customers that complement its current customer base. The acquisition will also open up avenues for multiple synergies, such as commercial cross-selling opportunities between both companies, the acceleration of engineering product offerings and supply chain savings.
EL Teo, CEO of PCI, said, “We are excited to leverage Celestica’s global footprint and significant resources to rapidly expand our business while bringing our new and differentiated engineering capabilities to their already impressive engineering team.”
The companies expect the transaction to complete by the end of this year, subject to required approvals and closing conditions.