Product category:
DC/DC Convertors
News Release from: Emerson Network Power - Embedded Power
Edited by the Electronicstalk Editorial
Team on 03 February 2006
Emerson to Artesyn in $500 million deal
Artesyn Technologies is to become part of Emerson Network Power.
Artesyn Technologies is to become part of Emerson Network Power Emerson will acquire Artesyn for $11 a share in cash (approximately $500 million net of acquired cash) pending customary regulatory approvals and approval by Artesyn shareholders
This article was originally published on Electronicstalk on 16 Nov 2006 at 8.00am (UK)
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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 leading original equipment manufacturers (OEMs) 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", said David N Farr, Emerson Chairman, Chief Executive Officer and President.
Artesyn Technologies, headquartered in Boca Raton, Florida, with sales in 2005 of approximately $420 million, operates globally with design, manufacturing, sales, and service facilities throughout Asia, Europe, and North America.
"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", said Joseph O'Donnell, Artesyn's Chief Executive Officer.
"The synergies will provide the scale, resources, and financial flexibility to take our leading technology to the next level".
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