Solectron to buy Centennial Technologies

MILPITAS, Calif. (Bloomberg) — Solectron Corp., the No. 1 maker of mobile phones, computers and equipment for other companies, agreed to buy Wilmington, Mass. based Centennial Technologies Inc., which makes memory cards for personal computers, for about $108 million in stock. Solectron will exchange about 0.536 shares for each Centennial share, Milpitas, Solectron said. Solectron will offer employment to Centennial’s 140 workers, Solectron spokesman Robert Kula said. The transaction is expected to close during the second quarter. Wilmington, Massachusetts-based Centennial had $35.6 million in sales last year. Solectron had sales of $14.1 billion. The company’s biggest customers are Nortel Networks Corp., Cisco Systems Inc., Ericsson AB, International Business Machines Corp. and Lucent Technologies Inc.