Emerson Accelerates Factory Automation Capabilities With Agreement to Acquire Afag
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Acquisition expands Emerson's factory automation served market by
Headquartered in Zell,
"Afag brings exciting technology that will enable Emerson to accelerate growth in our existing
"We are excited to join Emerson and build on its existing factory automation leadership, while further expanding our global reach," said Adrian Fuchser, chief executive officer of Afag. "Our customers rely on Afag for essential, customized systems and we are energized by this opportunity to create a more comprehensive and holistic solution for their motion needs. We share Emerson's vision of providing complete solutions in essential industries and we look forward to driving continued success as part of Emerson."
The transaction is expected to close by the end of Emerson's fiscal 2023, subject to customary closing conditions, including receipt of regulatory approvals. Terms of the transaction were not disclosed. Afag will be reported in Emerson's Discrete Automation segment.
For the transaction, Bryan Cave Leighton Paisner LLP is serving as legal advisor to Emerson.
About Emerson
Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world's essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the Company's ability to successfully complete on the terms and conditions contemplated, and the financial impact of, the proposed National Instruments transaction, the scope, duration and ultimate impacts of the COVID-19 pandemic and the
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SOURCE Emerson
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