American Power Conversion to be acquired by Schneider Electric
Uninterruptible power supplies (UPS) leader APC (American Power Conversion) is being bought by industrial controls and automation giant Schneider Electric for $6.1 billion cash – 30% up on the shares trading price.
The consolidation creates a clear industry leader for single-phase and three-phase UPS and integrated power systems for data centres.
Rob Johnson, APC’s president and chief executive officer, said, “This transaction provides APC stockholders with an immediate and substantial cash premium for their investment in the company. Upon completion of the transaction,
“APC will become part of Schneider Electric, with greater resources to accomplish our long-term plans,” says Rob Johnson, APC’s president and CEO.
And Jean-Pascal Tricoire, Schneider CEO adds: “This transaction is a tremendous opportunity for growth and for both companies, together, to provide … solutions to our combined customers.”
The transaction is expected to close in Q1 next year.
