Flex Closes $4.4B EPC Power Deal; Expressable Discloses $25.5M Raise in Austin Tech Roundup

Austin-based Flex finished a multibillion-dollar push into data center power, while a speech therapy startup, a beverage can printer and an ad-tech veteran made deal news.

AUSTIN, Texas — Flex Ltd. completed its roughly $4.4 billion purchase of power-conversion maker EPC Power, the largest deal of a quiet weekend for Austin tech. Virtual speech therapy company Expressable disclosed $25.5 million in new equity in a federal filing; private equity firm Mason Wells took ownership of can printer Canworks; and AI engineering firm Robots & Pencils bought Austin ad-automation company Tiger Pistol.

Flex completes EPC Power acquisition

Flex, the electronics manufacturer that runs its operations from Austin, said Oct. 14 that it has closed its acquisition of EPC Power, a U.S. maker of power conversion systems for data centers and the electric grid. Flex valued the deal at $4.4 billion when it was announced in September and said at the time it would pay with a mix of debt and equity. The completion announcement did not restate the price.

EPC Power builds its own hardware, software, and controls, and Flex says its technology has been deployed across more than 15 gigawatts of capacity. The business joins Flex’s Cloud and Power Infrastructure segment, which Flex plans to spin off as a separate public company, Axiom Solutions International, in the first quarter of 2027. “We are pleased to welcome the EPC Power team to Flex,” CEO Revathi Advaithi said in the company’s announcement.

The deal deepens one of Austin’s largest corporate players in the race to supply power and cooling for AI data centers, a market that is also reshaping Central Texas through projects in Bastrop, Hutto and Taylor.

Expressable discloses $25.5 million in new funding

Expressable, an Austin company that provides online speech-language therapy, has sold about $25.5 million in equity to nine investors, according to a Form D filed with the Securities and Exchange Commission and signed Oct. 15 by CEO Nicholas Barbara. The filing lists a total offering of about $35.5 million, leaving roughly $10 million unsold. The company has not publicly announced the round or named its investors.

Expressable pairs licensed clinicians with families and patients for virtual sessions built around daily routines and works with hundreds of health plans, including Medicaid plans. It last raised a $28.2 million Series B in 2024, led by HarbourVest Partners, Behavioral Health Business reported. Texas CEO Magazine puts its total funding at about $74 million.

Mason Wells acquires Austin can printer Canworks

Milwaukee private equity firm Mason Wells said Oct. 14 that it has acquired Canworks, an Austin company that digitally prints custom designs on aluminum beverage cans. Terms were not disclosed. Founders Ryan Thompson, the CEO, and Marshall Thompson, the president, invested alongside the firm and will continue to run the company from Austin, according to the Mason Wells announcement. Ally Corporate Finance provided financing.

Founded in 2020, Canworks also sells can ends and PakTech carriers to beverage brands and co-packers and operates five facilities in Austin, Atlanta, St. Louis, Vista, California, and Windsor, Connecticut. Mason Wells Managing Director Damon Thome called it “a special company with a customer-centric culture.” Texas CEO Magazine reported that the transaction closed in late 2025, though it was announced only last week.

Robots & Pencils buys Tiger Pistol

AI engineering firm Robots & Pencils said Oct. 15 that it has acquired Tiger Pistol, an Austin company whose software helps franchises, enterprises and resellers launch and manage ad campaigns on Meta, TikTok, Amazon and other platforms. The release did not disclose the terms.

Tiger Pistol, led by CEO Paul Elliott, has been on the market for more than 15 years and says it has run more than 4 million ad campaigns. It has become Robots & Pencils’ customer experience transformation practice. Robots & Pencils CEO Len Pagon Jr. said brands need “integrated, outcome-driven agentic systems that work at scale.” Founded in 2009, Robots & Pencils positions itself as a faster-moving alternative to large systems integrators and has delivery centers in the U.S., Canada, Eastern Europe, and Latin America.

Also in Silicon Hills

  • Flux Steel Holdings, based at 804 Congress Ave., sold $15.9 million in equity to 45 investors, according to an SEC filing signed Oct. 14. Texas CEO Magazine describes the company as a producer of grain-oriented electrical steel for transformer cores.
  • Tesla energy chief Mike Snyder has stepped down as vice president of energy and charging and will be succeeded by AJ Booth, The Wall Street Journal reported late Thursday, according to Reuters. Tesla, which is headquartered in Austin, reports third-quarter results Wednesday, Oct. 21.
  • WeWork, which runs several coworking locations in Austin, said in a mid-year report that 81% of member companies in its network kept or expanded their space in the first half of 2026, and average footprint per company rose 9.9% from a year earlier. Enterprises with 1,000 or more employees now hold nearly 40% of its seats. The report did not break out figures for Austin.
  • Texas CEO Magazine’s weekly deal tally counted six Austin funding disclosures and five Austin-related M&A deals last week, led by ICON’s $200 million Series D and Bumble’s $1.3 billion take-private.

Only in Austin

Austin’s most famous commuters are packing up. Most of the Mexican free-tailed bats under the Ann W. Richards Congress Avenue Bridge head to Mexico around October or November and return in spring, though about 100,000 stay year-round, The Trail Conservancy says. The colony, estimated at up to 1.5 million bats, moved in after a 1980 bridge renovation and was nearly exterminated by a fearful public. In 1986, conservationist Merlin Tuttle moved Bat Conservation International to Austin to defend them and won a Texas Monthly Bum Steer Award for his trouble. Now the bats are a tourist draw and a pest-control service.

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