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 Comment on this article 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. Enjoy this story? People who read this article also read... NIDays 2013 NIDays is a technical conference designed specifically for ... Read Article Southern Manufacturing This year, Southern Manufacturing and Electronics is set to be ... Read Article Claire Jeffreys, NEW Claire Jeffreys, events director, National Electronics Week, ... Read Article Arrow buys Nu Horizons Arrow is buying Nu Horizons in an all cash deal which values the ... Read Article What you think 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.