Emerson Sells Majority Stake in ATCA Business
“After extensive consideration, we have found an arrangement to exit this business in a manner that maximizes its value for our shareholders,” said Emerson Chairman and Chief Executive Officer David N. Farr. “The embedded computing and power business is a technology leader in the industry it serves, but no longer fits strategically in our portfolio. The transaction with Platinum will allow us to immediately focus on our core businesses while also participating in the upside from repositioning the business as it focuses on growth as an independent company.”
With revenue of approximately $1.4 billion in 2012, Emerson’s embedded computing and power business, based in Carlsbad, Calif., is a market leader in the design and supply of technologies used in communications and computing equipment and other applications.
Emerson Electric Co.