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Schneider Electric acquires American Power Conversion

1 November 2006 — Schneider Electric has acquired American Power Conversion, which specializes in UPS systems, to compliment its electric distribution services.

The companies have entered into a definitive merger agreement under which Schneider Electric will acquire all outstanding shares of APC for an enterprise value of approximately $5.5 billion. The price per share is $31 and will be paid in cash for a total amount of approximately $6.1 billion. Management of both companies have approved the transaction.

Schneider Electric’s core business is electric distribution. The company said this acquisition compliments Schneider Electric’s existing projects by adding its presence in the critical power market that is driven by the need for power supply continuity in an increasing number of applications due to concerns regarding reliability of the power grid and development of digital information traffic.

APC specializes in small and medium uninterruptible power supply (UPS) systems.