Eaton Completes the Acquisition of Tripp Lite, Expanding Eaton’s Power Quality Business in the Americas

Rhea-AI Summary

Eaton has finalized its acquisition of Tripp Lite, enhancing its product offerings in power management solutions. Tripp Lite, based in Chicago, is a top provider of power quality products, including uninterruptible power supply systems and surge protectors, primarily for data centers and industrial markets. President Uday Yadav emphasized the strategic importance of this integration in expanding Eaton's edge computing and UPS business. Eaton, with 2020 revenues of $17.9 billion, operates in over 175 countries, employing around 92,000 people.

Positive

• Acquisition enhances Eaton's edge computing and distributed IT product portfolio.
• Expansion of single-phase UPS business through Tripp Lite's complementary products.

Negative

• None.

Power management company Eaton (NYSE:ETN) today announced it has completed the acquisition of Tripp Lite.

Headquartered in Chicago, Illinois, Tripp Lite is a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical and communications markets in the Americas.

“I am delighted to welcome the Tripp Lite team to Eaton,” said Uday Yadav, president and chief operating officer, Electrical Sector, Eaton. “The addition of Tripp Lite’s complementary product offerings will enhance the breadth of our edge computing and distributed IT product portfolio and expand our single-phase UPS business.”

Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 92,000 employees. For more information, visit Eaton.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210317005812/en/

FAQ

What is the significance of Eaton's acquisition of Tripp Lite?

The acquisition enhances Eaton's edge computing and distributed IT product offerings, broadening their market reach.

What products does Tripp Lite offer?

Tripp Lite supplies power quality products including uninterruptible power supply systems, surge protectors, and rack power distribution units.

How will the acquisition impact Eaton's business?

It is expected to expand Eaton's single-phase UPS business and improve their overall product portfolio.

What were Eaton's revenues in 2020?

Eaton reported revenues of $17.9 billion in 2020.