06 August 2013

Emerson to sell embedded computing business

Emerson is selling a 51% stake in its Carlsbad, California based embedded computing and power business.

"Continued weakness in the technology equipment and mobile device markets that this business serves has resulted in lower sales and earnings growth expectations," the company said in a statement.

The division has been bought by Platinum Equity, a private equity investment firm based in the US, for approximately $300milllion in cash.

Emerson chairman and ceo David Farr, pictured, commented: "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."

The transaction is expected to close in the next six months.

Emerson today reported Q3 net earnings of $194million, down 75% from last year's $770m.

Author
Laura Hopperton

Supporting Information

Companies
Artesyn Embedded Technologies

This material is protected by Findlay Media copyright
See Terms and Conditions.
One-off usage is permitted but bulk copying is not.
For multiple copies contact the sales team.

Do you have any comments about this article?


Add your comments

Name
 
Email
 
Comments
 

Your comments/feedback may be edited prior to publishing. Not all entries will be published.
Please view our Terms and Conditions before leaving a comment.

Related Articles

‘Encouraging start’ to 2014

ARM has made an encouraging start to 2014, according to a statement ...

Fujitsu, Panasonic LSI deal

A year after announcing plans to merge their system LSI businesses, Fujistu and ...

Cadence buys Jasper for $170m

In a move which is likely to strengthen its verification portfolio, Cadence is ...

On track for clean power

Every piece of equipment needs power and yet, claims Peter Creely, there are ...

Next step is embedded

The embedded sector continues to grow, pushed by economies of scale and pulled ...

Protecting embedded systems

An embedded system can be attacked by injecting malware at some point. Once ...

Remote management

Out of Band (OOB) remote management can help to optimise the total cost of ...

4th gen Intel Core processors

This whitepaper from congatec will outline the benefits to embedded designers ...

SoCs for embedded systems

This whitepaper discusses Altera's programmable SoC approach to ARM based ...

FT51 and FT90 MCUs

FTDI's focus at Embedded World was on two new families of microcontrollers, ...

Modular power supplies

While engineers are increasingly looking to simplify power design, often by ...

SSD for embedded applications

Arrival Electronics has announced the availability of Silicon Motion's FerriSSD ...

Electronics Sourcing LIVE 2014

15th May 2014, Stadium MK, Milton Keynes, UK

Electronics Design Show 2014

22nd-23rd October 2013, Jaguar Exhibition Hall, Ricoh Arena, Coventry, UK

ARM mid-range mobile solutions

Nandan Nayampally, vp of processor marketing, introduces the new suite of ARM ...

Ask the expert: DSP

Murtaza Ali is a Distinguished Member of Technical Staff (DMTS) at Texas ...

LM5023 Low standby power demo

Terry demonstrates the ultra-low standby power of the LM5023 quasi-resonant ...

Search for software testers

Is there anybody out there?! *tumbleweed* This is how it feels looking ...

Will designers have a choice?

The distribution sector is shrinking rapidly. But it's not the revenues, it's ...

$60million well spent?

The fate of MIPS Technologies has been the subject of rumours for several ...

Sarah Macken, ESCO Council

ESCO's new chief executive tells Graham Pitcher that the electronic systems ...

John Richards, Oxford Digital

As the 2014 British Engineering Excellence Awards (BEEAs) programme launches, ...

Julian David, techUK chief

Graham Pitcher hears from techUK's chief executive about how the organisation ...