Emerson confirmed previously announced plans to spin off its Network Power business into an independent business to be called Vertiv.
Emerson intends to spin off 100 percent of the outstanding common stock of Vertiv through a tax-free distribution to shareholders in a process expected to be substantially complete by September 30, 2016.
Vertiv designs, manufacturer and services mission-critical infrastructure technologies for vital applications in data centers, communication networks and commercial/industrial environments. The company offers a broad range of products in both power and thermal management and provides lifecycle management services and solutions for deploying, maintaining and optimizing these products. In addition, Vertiv provides infrastructure management, monitoring, controls and software solutions for its customers’ critical applications.
Scott Barbour, who has been Executive Vice President of Emerson and Business Leader for Emerson Network Power said, “Our years as part of Emerson have given us a tremendous foundation from which to launch and grow Vertiv as an independent company. Our team is looking forward to the opportunity to concentrate on our core competencies, expand our global customer base, strengthen our industry leading positions, and create value for our future shareholders.”
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