Power supply manufacturer Emerson has acquired its smaller rival Artesyn Technologies for around $500m in cash, with Artesyn shareholders receiving $11 per share.
Artesyn, which runs operations in Asia, Europe and North America, will become part of Emerson Network Power, said the firm.
Last year, Artesyn had sales of around $420m from designs in server and storage, networking, wireless, and telecommunications systems.
According to Emerson, that business fits well with Emerson's products in enterprise computing, data, and telecoms.
“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 Farr, Emerson chairman, chief executive officer and president.
In its last financial year Emerson Network Power had sales of $3.3bn, while Emerson totalled $17.3bn.
www.artesyn.com
www.emersonnetworkpower.com