Emerson Network Power, the business unit of Emerson, is now known as Vertiv following Emerson’s announcement of its intent to spin off the unit as an independent company.
“The spinoff of Vertiv will sharpen Emerson’s focus on high-growth markets and establish Vertiv as an industry-leading public company under Scott Barbour’s strong leadership,” said Chairman and Chief Executive Officer David N. Farr.
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.”
Vertiv is a global leader in designing, manufacturing and servicing 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.
Vertiv will continue to operate as a segment of Emerson until the separation is complete. The separation is expected to be substantially complete by September 30, 2016, and is subject to certain conditions, including final approval by the Emerson Board of Directors, receipt of a favorable opinion with respect to the tax- free nature of the transaction, and the effectiveness of the Form 10 registration statement filed with the SEC.
