Rueil Malmaison, January 11, 2008 – Schneider Electric has signed an agreement to acquire IMS, a US company that designs and manufactures integrated motor and drive products and generated revenues around $20 million in 2007.
With this acquisition, Schneider Electric will further strengthen its presence in general motion control by providing an innovative solution for the fast growing integrated motor and drive market. In addition to becoming leader on this market, Schneider Electric will also improve its customer support in the US. With its R&D and manufacturing capability, IMS will provide a quick and efficient response to US market requirements as part of the Group’s Motion competency center created in 2005.
This acquisition meets Schneider Electric’s Return on Capital Employed criteria.
Michel Crochon, Executive Vice President of the Automation Business Unit at Schneider Electric, commented: “With this acquisition we will expand our product offering for OEM customers in the US while providing increased technical support in motion applications.”
“Teaming up with Schneider Electric will give us faster access to the global market and allow us to expand and secure our growth internationally,” says David Coutu, CEO and founder of IMS, who will stay on board and lead the future expansion of IMS together with the Schneider Electric Motion team.
About IMS
For more than 20 years, IMS has provided innovative motion control solutions in brushless motor technology and electronic controls. Its products are routinely used in applications demanding highly precise, controlled movement including: robotics, medical, assembly, semiconductor, packaging, engraving and pick-and-place. An industry leader in integrated motor and drive solutions, IMS is an R&D driven company with a solid commitment to Excellence in Motion.
About Schneider Electric
Schneider Electric, the world's power and control specialist, anticipates and satisfies its customers' requirements in the residential, building, data centers and networks, industry and energy and infrastructure markets. With 112,000 employees and operations in 190 countries, Schneider Electric generated revenue of €13.7 billion in 2006 through 15,000 distributor outlets.
