Legrand Announces Agreement to Acquire Raritan
Raritan, a leader in the growing intelligent power market, would strengthen Legrand's global leadership position and expand its reach and breadth of solutions for data center customers.
WEST HARTFORD, CT, June 16, 2015 -
Legrand, North America announced today that a definitive agreement has been signed to acquire(1)
Raritan, a New Jersey-based company specializing in data center infrastructure solutions. The scope of the acquisition would include Raritan’s intelligent power and KVM businesses, while its Data Center Infrastructure Management (DCIM) software business would spin off into Sunbird Software, a new company and strategic partner of Raritan to be chaired by Ching-I Hsu, CEO and founder of Raritan.
The transaction is expected to be completed upon the satisfaction of agreed closing conditions, including the receipt of all required consents and US and foreign regulatory approvals. If approved, it is anticipated that following closing, Raritan would operate as an independent business within Legrand.
The intelligent power market is expected to grow rapidly due to industry trends toward increased power density and clients' need to maximize capacity and energy efficiency. The acquisition would further support Legrand’s commitment to sustainability by delivering additional solutions that help customers monitor and manage their energy consumption.
According to Ching-I Hsu, “Legrand would provide a home for Raritan’s intelligent power business that best maximizes the value of its existing people, expertise, and brand — as Raritan’s products complement and enhance Legrand’s existing portfolio. In addition, Raritan’s corporate culture closely aligns with Legrand’s: demonstrating a client-focused, high-integrity, innovation-based approach to business.”
“The complementary strengths of these businesses and product offerings would be unmatched by any other supplier in this industry,” said John Selldorff, President and Chief Executive Officer, Legrand, North America. “The combined leadership team looks forward to making a real difference for global data center customers, now and for the future.”
(1) Subject to standard conditions precedent
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for use in commercial, industrial and residential markets makes it a benchmark for customers worldwide. Innovation for a steady flow of new products with high added value is a prime vector for growth. Legrand reported sales of $6.0 billion in 2014. Legrand has a strong presence in North America, with a portfolio of well-known product lines that include C2G, Cablofil, Electrorack, Middle Atlantic, NuVo, On-Q, Ortronics, Pass & Seymour, Quiktron, Vantage, Watt Stopper, and Wiremold. Legrand is listed on Euronext Paris and is a component stock of indexes including the CAC40, FTSE4Good, MSCI World, ASPI, Corporate Oekom Rating and DJSI (ISIN code FR0010307819). www.legrand.com.
Raritan, is a proven innovator of energy and infrastructure management solutions for data centers of all sizes. In more than 50,000 locations worldwide, Raritan’s award-winning hardware and software solutions – including intelligent rack PDUs, environment sensors, and KVM switch products – provide IT and facility directors, managers and administrators with the control they need to increase power management efficiency, improve data center productivity and enhance operations. Based in Somerset, N.J., Raritan has offices worldwide serving customers in 76 countries. Raritan is an active member of the Green Grid, Climate Savers Computing Initiative, and the Leadership in Energy and Environmental Design associations. The EPA has recognized Raritan for its contribution to the agency’s data center initiative. http://www.raritan.com