Jabil enters into preliminary agreement relating to sale of Mobility business

Jabil announced a preliminary agreement with BYD Electronic relating to the sale of its Mobility business in a potential transaction expected to be valued at approximately $2.2B. As part of the agreement, the parties have agreed to endeavor to enter into a definitive agreement. The divestiture will not be completed until the parties have completed due diligence and executed a definitive agreement and closed the transaction, which will be subject to the satisfaction of required regulatory approvals and other customary closing conditions.