Emerson Buys Avocent for $1.2 Billion

ST. LOUIS ( TheStreet) -- Emerson ( EMR) is acquiring information technology operations outfit Avocent ( AVCT) in an all-cash tender worth about $1.2 billion, or $25 a share.

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

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