Menu
Emerson loses Network Power

Emerson loses Network Power

Spins off datacentre infrastructure business which becomes Vertiv

Emerson chairman and chief executive, David Farr,says the spin-off of the Network Power business will prepare the company for future growth.

Emerson chairman and chief executive, David Farr,says the spin-off of the Network Power business will prepare the company for future growth.

Emerson Network Power will soon cease to exist.

The company has filed a Form 10 registration Statement with the US Securities and Exchange Commission (SEC) to spin off its Network Power business, which will be re-named Vertiv.

The filing outlines the company’s intent to spin off 100 per cent of the outstanding common stock of the newly named company through a tax-free distribution to shareholders.

The process is expected to be substantially complete by September 30, 2016.

Emerson chairman and chief executive, David Farr, said the process, which began in 2015, was focused on strengthening Emerson and preparing the company to capitalise on future growth opportunities.

“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,” he added.

The separation is still subject to certain conditions, including final approval by the Emerson board, receipt of a favourable opinion with respect to the tax- free nature of the transaction, and the effectiveness of the Form 10 registration statement filed with the SEC.

The filing provides information related to Vertiv’s business, as well as financial statements for fiscal years ended September 30, 2013, 2014 and 2015.

Vertiv will continue to operate as a segment of Emerson until the separation is complete.

Subsequent amendments to the Form 10 are expected to be filed in conjunction with the SEC review and as financing and other decisions are made.

The declaration of effectiveness by the SEC is not expected until closer to the date of separation.



Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags emerson network powerdavid farrvertiv

Featured

Slideshows

Kiwi channel comes together for another round of After Hours

Kiwi channel comes together for another round of After Hours

The channel came together for another round of After Hours, with a bumper crowd of distributors, vendors and partners descending on The Jefferson in Auckland. Photos by Maria Stefina.​

Kiwi channel comes together for another round of After Hours
Consegna comes to town with AWS cloud offerings launch in Auckland

Consegna comes to town with AWS cloud offerings launch in Auckland

Emerging start-up Consegna has officially launched its cloud offerings in the New Zealand market, through a kick-off event held at Seafarers Building in Auckland.​ Founded in June 2016, the Auckland-based business is backed by AWS and supported by a global team of cloud specialists, leveraging global managed services partnerships with Rackspace locally.

Consegna comes to town with AWS cloud offerings launch in Auckland
Veritas honours top performing trans-Tasman partners

Veritas honours top performing trans-Tasman partners

Veritas honoured its top performing partners across the channel in Australia and New Zealand, recognising innovation and excellence on both sides of the Tasman. Revealed under the Vivid lights in Sydney, Intalock claimed the coveted Partner of the Year 2017 (Pacific) award, with Data#3 acknowledged for 12 months of strong growth across the market. Meanwhile, Datacom took home the New Zealand honours, with Global Storage and Insentra winning service provider and consulting awards respectively. Dicker Data was recognised as the standout distributor of the year, while Hitachi Data Systems claimed the alliance partner award. Photos by Bob Seary.

Veritas honours top performing trans-Tasman partners
Show Comments