Emerson to buy Avocent for $1.2 billion

October 6, 2009

(AP) -- Emerson Electric Co. said Tuesday it has agreed to buy Avocent Corp. for about $1.2 billion in cash, a move the company says will offer customers better management of their data centers.

The manufacturing and technology services company said it will offer $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.

Avocent shares jumped $4.28, or 21 percent, to $24.80 in premarket trading.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Broadcom launches hostile $764M bid for Emulex

Related Stories

Broadcom launches hostile $764M bid for Emulex

April 21, 2009

(AP) -- Chip designer Broadcom Corp. is launching a $764 million hostile takeover offer for network gear maker Emulex Corp. Broadcom said Tuesday the deal would help it develop new technologies for corporate data centers.

NetApp to buy Data Domain in $1.5 billion deal

May 21, 2009

(AP) -- Data storage company NetApp Inc. said Wednesday it agreed to buy data backup and disaster recovery systems provider Data Domain Inc. for $25 per share in cash and stock, or about $1.5 billion.

EMC wins bid contest in $2.1B deal for Data Domain

July 8, 2009

(AP) -- For the last month and a half, a fierce bidding contest has lit up a staid but increasingly critical part of the computing world. On Wednesday, EMC Corp. walked away with the prize.

IBM scoops up software maker SPSS in $1.2B deal

July 28, 2009

(AP) -- IBM Corp. is bulking up its most profitable division with a $1.2 billion acquisition of business software provider SPSS Inc., a deal that also reflects the power of wealthy technology companies to throw their money ...

Xerox in $6B deal to expand tech services business

September 28, 2009

(AP) -- Xerox Corp. said Monday it will buy Affiliated Computer Services Inc. for $6.4 billion in cash and stock, joining the expensive race among technology companies to broaden their offerings.

Ahead of the Bell: Brocade shares jump

October 5, 2009

(AP) -- Shares of Brocade Communications Systems Inc. jumped in premarket trading Monday after a report the network gear and data storage company is up for sale.

Recommended for you

Netherlands bank customers can get vocal on payments

August 1, 2015

Are some people fed up with remembering and using passwords and PINs to make it though the day? Those who have had enough would prefer to do without them. For mobile tasks that involve banking, though, it is obvious that ...

Power grid forecasting tool reduces costly errors

July 30, 2015

Accurately forecasting future electricity needs is tricky, with sudden weather changes and other variables impacting projections minute by minute. Errors can have grave repercussions, from blackouts to high market costs. ...

Microsoft describes hard-to-mimic authentication gesture

August 1, 2015

Photos. Messages. Bank account codes. And so much more—sit on a person's mobile device, and the question is, how to secure them without having to depend on lengthy password codes of letters and numbers. Vendors promoting ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.