Emerson acquiring Artesyn Technologies
"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," says David Farr, Emerson chairman, CEO and president.
Located in Boca Raton, Fla., Artesyn had sales of approximately $420 million in 2005. It operates globally with design, manufacturing, sales, and service facilities in Asia, Europe and North America.
"Besides providing Artesyns shareholders with full value, our customers will benefit from Emerson's extensive international infrastructure to successfully meet their evolving needs," says Joseph O'Donnell, Artesyn's CEO. "The synergies will provide the scale, resources, and financial flexibility to take our leading technology to the next level."