Emerson Electric Co., St. Louis, said it would acquire the plant and power-systems business of British telecommunications equipment company Marconi Corp. Plc for $375 million in cash.
The deal for the Marconi business, based in Lorain, Ohio, is expected to close by the end of September, Emerson said. The acquisition would allow Emerson to strengthen its presence with the regional Bell companies, inter-exchange carriers, wireless and cable companies in North America — and leverage its global assets.
“The combination of Marconi’s power business with the global engineering and manufacturing resources of Emerson Network Power provides an unmatched competitive advantage for global telecom customers,” said David N. Farr, Emerson chief executive officer. “This expands our North American presence in DC products, solutions, and services, and enhances our position as a global leader in DC power systems.”