Schneider Electric Gets EC Approval To Buy APC

The approval is subject to "certain conditions," Schneider said, and as a result the company has agreed to divest its MGE UPS Systems business, which serves the market for small systems below 10 kVA.

"Following the approval of APC shareholders at a special meeting on Jan. 16, 2007, this decision is a major milestone toward the successful completion of the acquisition. Schneider Electric and APC now expect to close the transaction within the next two weeks," Schneider said in a statement.

The deal, once completed, would give Schneider ownership of APC's product and sales operations in data center architecture and cooling, as well as in power supply management solutions.

Schneider said the divestment that will take place involves 6 percent of "the combined operations of APC and MGE UPS systems in critical power."

Executives of APC, based in West Kingston, R.I., have said Schneider plans to continue the APC brand as well as maintain a dedicated channel operation.