---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-050437"
form_type: "8-K"
ticker: "SANM"
cik: "0000897723"
company_name: "SANMINA CORP"
filed_at: "2025-05-19T23:59:59+00:00"
generated_at: "2026-05-21T02:37:24.246842+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Sanmina acquires ZT Systems manufacturing from AMD for $2.55B cash/equity plus $450M contingent

## Summary
- Purchase price: $2.25B cash at target NAV, $300M premium (50% cash/50% equity), plus up to $450M contingent consideration.
- ZT Systems manufacturing annual revenue run-rate ~$5-6B; deal expected to double Sanmina revenue in three years.
- Accretive to non-GAAP EPS in first full year post-close; backed by $2.5B bridge financing from BofA.
- Strategic NPI partnership with AMD; AMD retains AI design business, Sanmina becomes preferred manufacturing partner.
- Expected close near end of 2025, subject to regulatory approvals; termination fee of $153M in certain scenarios.

## SEC filing metadata
- accession: 0001104659-25-050437
- form_type: 8-K
- ticker: SANM
- cik: 0000897723
- company_name: SANMINA CORP
- filed_at: 2025-05-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/897723/000110465925050437/0001104659-25-050437-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/897723/000110465925050437/tm2515499d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-050437
- JSON: https://secwatch.observer/filing/0001104659-25-050437.json
- Plain text: https://secwatch.observer/filing/0001104659-25-050437.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.