BYD Electronic, a subsidiary of electric vehicle manufacturer BYD, entered into an acquisition arrangement with Jabil Circuit to purchase full ownership of Juno Newco Target Holdco Singapore. This entity was recently established and is owned by Jabil Circuit (Singapore), a subsidiary of Jabil (NYSE:JBL). The acquisition is valued at 15.8 billion yuan, which is roughly $2.2 billion. Following this news, shares of Jabil jumped more than 8% intra-day today.

Juno Newco Target Holdco Singapore will primarily possess specific product manufacturing operations in Chengdu and Wuxi. These operations encompass the production of components for existing customers. The transition will occur following a reorganization process conducted by BYD Electronic.