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Emerson Buying Avocent for $1.2 Billion

Tuesday, 06 Oct 2009 08:16 AM

Emerson Electric says it has agreed to buy Avocent for about $1.2 billion in cash, a move the company says will offer customers better technology and services for managing data centers.

The manufacturing and technology services company said Tuesday it would pay $25 per share for Avocent, a 22 percent premium over Monday's closing price.

Huntsville, Ala.-based Avocent makes network equipment and software and had sales of about $657 million last year.

St. Louis-based Emerson expects the deal to close around Jan. 1.

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Emerson Electric says it has agreed to buy Avocent for about $1.2 billion in cash, a move the company says will offer customers better technology and services for managing data centers.The manufacturing and technology services company said Tuesday it would pay $25 per share...
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2009-16-06
 

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