French company Schneider Electric is to acquire American
Power Conversion (APC), a US manufacturer of uninterruptible power
supply systems, for £2.9bn.
Schneider hopes the acquisition will boost its position in a
market that is expected to continue to grow rapidly to meet
increasing demand for power back-up to maintain critical
systems.
Schneider chief executive Jean-Pascal Tricoire, said, “This
acquisition is a significant strategic move for the company. It
allows us to greatly strengthen Schneider Electric in the fastest
growing segment of our core business - electrical distribution.
“We expect this transaction to generate significant value by
leveraging the unique complementary strengths of the two
companies.”
The deal is expected to allow the merged company to cut costs
through rationalisation of purchasing, R&D, support, sales and
services functions and to add to Schneider’s product range through
the further development of APC’s technology.
