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

More from The Register

next story
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
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.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.