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Emerson to acquire Artesyn Technologies

Posted: 07 Feb 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Emerson? Artesyn Technologies? acquisition?

Emerson and Artesyn Technologies announced that Artesyn will become part of Emerson Network Power. According to the press release, Emerson will acquire Artesyn for $11 a share in cash (approximately $500 million net) pending customary regulatory approvals and approval by Artesyn shareholders.

The agreement brings additional embedded power conversion technologies to Emerson Network Power's existing portfolio of solutions for customers in the enterprise computing, data and telecommunications industries. Artesyn provides OEM with advanced power conversion equipment as well as hardware and software subsystems for a range of communication applications.

"Artesyn's focus on technology, global presence and complementary marquee customer relationships make it a great strategic fit with Emerson Network Power to help us better serve important customers in key markets around the world," commented David Farr, Emerson chairman, CEO and president.

Artesyn CEO Joseph O'Donnell meanwhile said, "In addition to providing Artesyn shareholders with full value, our customers will benefit from Emerson's extensive international infrastructure to successfully meet their evolving needs. The synergies will provide the scale, resources and financial flexibility to take our leading technology to the next level."

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