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Press release from Business Wire

Jabil to Acquire Telmar Network Technology

<p class='bwalignc'> <i><b>Acquisition Enhances Aftermarket Services Offering</b></i> </p>

Thursday, August 25, 2011

Jabil to Acquire Telmar Network Technology09:25 EDT Thursday, August 25, 2011 ST. PETERSBURG, Fla. (Business Wire) -- Jabil Circuit, Inc. (NYSE: JBL) today announced that it has entered into an agreement to acquire Telmar Network Technology, Inc., a provider of complex reverse logistics, repair services, technical support, and spare parts management solutions for communication network service providers, enterprise and original equipment manufacturers worldwide. “We are very pleased to announce this transaction with Telmar,” said Hartmut Liebel, Executive Vice President and CEO of Jabil Aftermarket Services. “This acquisition supports Jabil's strategic commitment to expand our Diversified Manufacturing Services segment and we believe our combined forces will strengthen the depth and scope of Jabil's Aftermarket Services business.” Specializing in the communications and networking markets, Telmar recorded fiscal 2010 revenue of approximately $145 million. The Telmar business will be incorporated within Jabil's Diversified Manufacturing Services segment. “We are excited about joining forces with Jabil, a global industry leader in aftermarket services,” said Steven Pickett, CEO and President of Telmar Network Technology. “We believe the combination will further our ability to uniquely fulfill critical services and increase operational efficiency for our customers through what will now be a broader end-to-end network maintenance services portfolio.” Completion of the transaction, which is subject to regulatory clearance and customary conditions, is expected to take place by November. Jabil indicated that the acquisition will be accretive to earnings and said the company would provide further details during its fourth quarter earnings call in September. About JabilJabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and product management services to global electronics and technology companies. Jabil helps bring electronics products to the market faster and more cost effectively by providing complete product supply chain management around the world. With more than 85,000 employees and facilities in 22 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, “JBL”. Further information is available on the company's website: http://www.jabil.com.This news release contains forward-looking statements, including our agreement to acquire Telmar Network Technology, Inc., the acquisition's effect on the depth and scope of our aftermarket services business, our aftermarket services business being a key area of growth for our company, the post-transaction service provider capabilities of the operations being acquired from Telmar, the transaction's expected completion date, the transaction's being accretive to earnings, and our strategic commitment to expand the Specialized Services business. These statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to: our ability to successfully consummate the Telmar transaction at the expected time, or at all, as a result of, among other things, a failure to obtain the necessary regulatory clearance or a failure to satisfy the applicable closing conditions; our ability to successfully integrate the operations acquired from Telmar and to retain its customers the post-acquisition performance of the operations to be acquired from Telmar relative to that of our aftermarket services business; changes to our business strategy; fluctuations in operating results and generation of cash flow; adverse changes in current or future macro-economic conditions, both in the U.S. and internationally; our financial performance during and after the current economic conditions; our ability to maintain and improve costs, quality and delivery for our customers; risks and costs inherent in litigation; whether our realignment of our capacity will adversely affect our cost structure, ability to service customers and labor relations; our ability to take advantage of perceived benefits of offering customers vertically integrated services; changes in technology; competition; anticipated growth for us and our industry that may not occur; managing rapid growth; managing any rapid declines in customer demand that may occur; our ability to successfully consummate acquisitions and divestitures; managing the integration of businesses we acquire; risks associated with international sales and operations; retaining key personnel; our dependence on a limited number of large customers; business and competitive factors generally affecting the electronic manufacturing services industry, our customers and our business; other factors that we may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, subsequent Reports on Form 10-Q and Form 8-K and our other securities filings. Jabil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Jabil Circuit, Inc.Investor & Media Contact:Beth Walters, 727-803-3349Senior Vice President, Investor Relationsinvestor_relations@jabil.com