Summary
Eaton Corporation plc (ETN) announced on January 29, 2021, that it has entered into an agreement to acquire Tripp Lite for $1.65 billion. This acquisition positions Eaton to expand its presence in the power quality and connectivity solutions market, particularly targeting data centers, industrial, medical, and communications sectors across the Americas. Tripp Lite is recognized for its offerings in uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures.
Key Highlights
- 1Eaton to acquire Tripp Lite for $1.65 billion.
- 2Acquisition aims to strengthen Eaton's power quality and connectivity solutions portfolio.
- 3Target markets include data centers, industrial, medical, and communications.
- 4Geographic focus of the acquisition is the Americas.
- 5Tripp Lite is a leading supplier in its product categories.
- 6The transaction was announced via a press release on January 29, 2021.