Legrand Announces Agreement To Acquire(1) Raritan
BANGALORE: Legrand, North America announced 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.”
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