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Article: United States: Emerson shells out $1.2bn for Avocent.
- Article from:
- TendersInfo
- Article date:
- October 8, 2009
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Emerson Electric - the conglomerate that has power, process, climate control, and industrial automation businesses as well as appliances and tools that it peddles - will soon have a bunch of hardware and software gadgetry to sell now that it's agreed to pay $1.2bn to buy server management vendor Avocent.
Under a deal announced today, Emerson is paying $25 per share to buy Avocent, representing a 22 per cent premium over Monday's closing price. Avocent's shares and sales have been struggling since the beginning of the recession in the United States back in late 2007, and that was one reason Mike Borman, who used to run IBM's partner channel and who worked at Big ...