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Jabil Circuit
JBL today announced that it has entered into
an agreement with iQor Holdings, Inc. for the sale of its aftermarket
services business for $725 million.
In 1999, Jabil entered the electronics warranty repair business through
a $30 million acquisition (later named Jabil Aftermarket Services, or AMS).
“Our AMS business has been a wonderful asset to Jabil over the past 14
years, as it grew through internal growth and acquisitions to represent
$1.1 billion in revenue for Jabil in fiscal 2013. Today, Jabil's AMS
business is concentrated in depot repair for consumer electronics, which
is not aligned with our strategy to focus on diversified manufacturing
solutions,” said Mark T. Mondello, Jabil's C.E.O.
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