Feeds

Schneider Electric fuses with APC

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

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

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.®

Internet Security Threat Report 2014

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
prev story

Whitepapers

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.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
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?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.