Feeds

Schneider Electric fuses with APC

$6.1bn deal the most exciting news in UPS - ever

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

The uninterruptible power supply (UPS) industry felt a surge in activity today with French company Schneider Electric SA acquiring American Power Conversion Corp (APC) in a deal estimated at $6.1bn.

Schneider Electric, which provides automation and electricity management services, had a reported turnover of €11.7bn in 2005.

Its chief executive officer Jean-Pascal Tricoire described the transaction as "a tremendous opportunity for growth for both companies" in the single-phase and three-phase UPS market.

The acquisition should see the Europe-based company expand its production in both the US and Asian markets.

APC has been a leading global player in power solutions for the technology market for over 25 years and is listed on Nasdaq.

In a statement APC's president Rob Johnson said: "Both companies have a dedication to innovation and customer service that makes our combined enterprise an even stronger player in the industry."

The deal is subject to approval from APC shareholders and the transaction is expected to be completed in the first quarter of 2007.

Schneider shares, after a 7.2 per cent fall yesterday due to a three-hour suspension, are currently at €103 in Paris. On the Nasdaq Stock Exchange, APC shares are up 26 per cent at $30 each.®

Secure remote control for conventional and virtual desktops

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.