The deal is likely to close around Jan. 1, 2010, and "will further Emerson's ability to deliver total infrastructure management solutions to its data center customers around the world," the company said in a press release Tuesday.
On Monday, Avocent shares closed at $20.52.
Avocent racked up $657 million in sales in 2008, with nearly 50% of that coming from outside of the U.S. Emerson's data center-related sales in 2008 came to $2.6 billion.-- Written by Sung Moss in New York Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV