In 2005, the company purchased the manufacturing division of Nortel Networks, and Solectron in 2007. In 2000, the company ranked third on "100 Best-Managed Companies" by IndustryWeek. and a Swedish-based company, Ericsson Business Networks. The company acquired two companies in Hong Kong, Astron Group and FICO Plastics Ltd. The company closed its contract electronic manufacturing plant in Richardson, Texas in 1996. In 1993, the company received venture capital funding through Sequoia Capital, and became a public held company again in 1994. In 1990, the company returned to being a private company in a leveraged buyout and was renamed as Flextronics International, Ltd. The company was founded in 1969 as Flextronics, Inc.
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