Jabil to divest Mobility business to BYD Electronic for $2.2B

Jabil (JBL) “announced the signing of a definitive agreement to divest its Mobility business to BYD Electronic Company Limited (BYDIF) in a cash transaction valued at $2.2 billion. The definitive agreement follows a preliminary agreement announced by the two companies on August 27, 2023. Under the agreement, Jabil’s Mobility business, which manufactures components for consumer electronics, will transfer to BYDE. The business is mainly located in Chengdu and Wuxi, China.”