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Vertiv Sells ASCO(R) to Schneider Electric
2017/08/12
COLUMBUS, Ohio, July 27, 2017 (GLOBE NEWSWIRE) -- Vertiv, formerly Emerson Network Power, today announced plans to sell its ASCO(R) business as it continues to sharpen its focus on the digital critical infrastructure space. The $1.25 billion sale to Schneider Electric allows Vertiv to apply additional resources toward business and technological advancements in its core data center, telecommunications and commercial and industrial markets.
 
As Vertiv has repositioned itself after being sold to Platinum Equity in November 2016, it became clear that ASCO’s strengths in the automatic transfer switch arena fell outside the new organization’s more focused strategy, said Vertiv CEO Rob Johnson.
 
“This sale is a significant step forward in our evolution as the premier provider of digital critical infrastructure solutions,” Johnson said. “This is consistent with our strategy of focusing on our customers and aligning the strengths of our organization - deep domain knowledge in IT and facilities applications, global scale and service coverage - to better meet their needs.”
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