Davis Polk is advising Emerson on its acquisition of Intelligent Platforms, a division of General Electric. The acquisition is expected to close in the first half of Emerson’s 2019 fiscal year, subject to regulatory approvals and other customary closing conditions. Financial terms of the deal were not disclosed.
Emerson, headquartered in St. Louis, Missouri, is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Intelligent Platforms is based in Charlottesville, Virginia, with approximately 650 employees worldwide and 2017 sales of $210 million. The business has a 25-year track record as an industrial automation innovator for machine control, industrial computing, input/output and networking devices, project and integration services and other hardware and software solutions.
The Davis Polk corporate team includes partner Harold Birnbaum and associates Albert Zhu and Sang Hun Lee. Partner Rachel D. Kleinberg is providing tax advice. Partner Jeffrey P. Crandall and associate Travis Triano are providing executive compensation advice. Partner Frank J. Azzopardi and associate Christopher C. Woller are providing intellectual property and technology advice. Partner Ronan P. Harty is providing antitrust and competition advice. Partner John B. Reynolds III is providing regulatory and compliance advice. Members of the Davis Polk team are based in the New York, Northern California and Washington DC offices.