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Flex Spinoff Axiom Targets AI Infrastructure
17 Sep
Summary
- Flex Ltd. is spinning off its cloud and power infrastructure business.
- The new independent company will be named Axiom Solutions International.
- Axiom is expected to trade on Nasdaq under the ticker AXM.
Flex Ltd. has officially named its planned independent cloud and power infrastructure company Axiom Solutions International Inc. This development marks a significant step in Flex's strategy to establish this rapidly expanding business as a standalone public entity. Axiom is being positioned to meet the escalating infrastructure needs driven by artificial intelligence and data centers.
The company has also submitted a preliminary registration statement to the U.S. Securities and Exchange Commission, signaling its readiness for public trading under the Nasdaq ticker AXM post-spin-off. The separation is targeted for completion in the first quarter of 2027, contingent upon various approvals including board, shareholder, and Singapore High Court consent.
In parallel, Flex has appointed Amy B. Schwetz as Chief Financial Officer for its Regulated Manufacturing Services and Integrated Technology Services segments, with plans for her to assume the role of Flex CFO after the separation. Schwetz brings over 25 years of financial expertise from previous roles at Flowserve Corp. and Peabody Energy Corp.
