Emerson to buy Avocent for $1.2 billion

Oct 06, 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 This material may not be published, broadcast, rewritten or redistributed.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: WellPoint 2Q tops Wall Street expectations

add to favorites email to friend print save as pdf

Related Stories

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.

Ahead of the Bell: Brocade shares jump

Oct 05, 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.

Broadcom launches hostile $764M bid for Emulex

Apr 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.

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

Jul 08, 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

Jul 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

Sep 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.

Recommended for you

Sony surprises with first quarter profit

3 hours ago

(AP)—Sony Corp. reported a surprise eightfold jump in quarterly profit Thursday as sales got a perk from a cheap yen and its bottom line was helped by gains from selling buildings and its stake in a video-game maker.

Samsung profit falls as smartphone sales slow

3 hours ago

(AP)—Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

Why let your sales force influence product prices?

22 hours ago

From the outside, you might not notice the ongoing tension within many large businesses: the battle between salespeople, on the one hand, and marketers and product managers, on the other. Because the salespeople ...

User comments : 0