Anaheim-based MCM Industries Inc., a privately owned electronic components testing firm, has been acquired by Flextronics Inc. for a undisclosed amount of stock and cash.
The sale includes two MCM subsidiaries: the Electronic Test Centers in five states, and Electronic Manufacturing and Design Inc. of Great Falls, S.C. Both will be operated as subsidiaries of Newark, Calif.-based Flextronics.
MCM Industries has about 260 employees and reported revenue of about $13 million for its fiscal year ended March 31.
Flextronics is a privately held, service industry for high tech firms that employs about 1,400 workers in California, Massachusetts, Singapore and Hong Kong.
Under the agreement, MCM's chairman, Gus Melbardis, will become a Flextronics' senior vice president and manage the Electronic Test Centers throughout the U.S. Bill Coker, who was MCM resident of MCM Industries, also will become a senior vice president and manage the Southeast region business unit.
No lay-offs are planned in Orange County, where Flextronics eventually hopes to add employees, company officials said.