Schneider Electric acquires APC
The announcement in November that Schneider Electric has agreed to purchase American Power Conversion for about $6.1 billion was seen as a complimentary purchase between a company that wants to expand its electrical distribution business and a company whose strength is in that market segment.
“This acquisition allows us to greatly strengthen Schneider Electric in the fastest growing segment of our core business: electrical distribution,” said Jean-Pascal Tricoire, CEO of Schneider Electric. “We expect this transaction to generate significant value by leveraging the unique complementary strengths of the two companies.”
By acquiring a global leader in the critical power market, and combining it with its subsidiary, MGE UPS Systems, Schneider Electric will become a worldwide company in the sector.
“Both companies have a dedication to innovation and customer service that would make our combined enterprise an even stronger, more competitive player in the industry,” added APC president and CEO Rob Johnson.