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St. Louis-based $17.3 billion Emerson will buy Florida-based Artesyn Technologies for about $500 million in cash. Artesyn will become part of Emerson Network Power, pending customary regulatory approvals and approval by Artesyn shareholders.
Artesyn provides 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, CEO and president.
Artesyn Technologies, headquartered in Boca Raton, FL, with sales in 2005 of about $420 million, operates globally with design, manufacturing, sales, and service facilities throughout Asia, Europe and North America.
Artesyn's products are used in middle to high-end servers, data storage devices, routers, hubs, high-speed modems, RF amplification systems, base station controllers and transceivers.
Emerson Network Power, an Emerson business, serves the needs of telecommunications networks, data centers, health care and industrial facilities worldwide with a full spectrum of power solutions, including inbound power, connectivity, power supplies, power systems and precision cooling. Sales in fiscal 2005 were $3.3 billion.
Emerson has network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2005 were $17.3 billion.