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by Stephanie Neil, MA Editorial Staff
Posted on Monday, October 30, 2006 6:32:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | $6.1 billion deal would create a UPS global powerhouse combining APC's strength in small and medium-sized power protection products and infrastructure with a Schneider unit that has performed well in large UPS products and services.
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| Keywords: | Schneider Electric; American Power Conversion; MGE UPS, Emerson Liebert; Eaton Corp., ABB, uninterruptible power supplies; power management |
Schneider Electric today disclosed that it has agreed to acquire American Power Conversion (APC) Corp., a manufacturer of uninterruptible power supplies (UPS), in an all-cash deal valued at $6.1 billion. The deal would create a global UPS and infrastructure products powerhouse, combining Schneider Electric's MGE business unit, a force at the high end of the market, with APC, which is strong in entry level and mid-tier products. The deal, which is expected to close in the first quarter of 2007, has been approved by both companies' boards of directors, the two companies said. "This acquisition is a significant strategic move for the company," said Jean-Pascal Tricoire, Schneider Electric's CEO, in a statement. "It allows us to greatly strengthen Schneider Electric in the fastest-growing segment of our core business: electrical distribution." [Click to continue] |
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