Yahoo Finance Flex Strengthens Reverse Logistics and Circular Economy Services with Acquisition of FreeFlow
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
