Schneider Electric acquires Lee Technologies
(The Hosting News) – Schneider Electric, the global specialist in energy management, announced today that it has acquired Lee Technologies, a leading service provider for the data centers of the North American market.
Headquartered in Fairfax, Virginia, Lee Technologies has over 300 employees and generated sales of about USD 140 million (approx. €104 million) in 2010. The company specializes in the mission-critical data center services, including remote monitoring command centers and on-site critical facility operations. It caters to several customer segments including federal government, financial services, telecommunications, information technology and healthcare.
Lee Technologies brings to Schneider Electric capabilities ranging from consulting, site assessment, design, equipment specification and selection to integration, commissioning, facility operations staffing, maintenance and proactive 24×7 remote monitoring. This full repertoire of services will reinforce Schneider Electric’s IT business skills in data center management and its ability to provide data centers, one of the world’s fastest growing end-users of energy, with the best standards in energy conservation and reliability.
Laurent Vernerey, Executive Vice President, Schneider Electric IT business said: “Lee Technologies possesses a deep and intimate knowledge of both its customers’ needs and data center operations. This unique combination of business and technical expertise and total lifecycle service will broaden our client base, extend our advanced service capabilities and enable us to provide our customers a totally ‘managed’ contract to meet their needs.”
“We are excited about the opportunity to join Schneider Electric as we have always held the company in high esteem. We are confident that our broad and comprehensive offering for data centers will be well positioned to benefit from solid growth opportunities in the future” said John C. Lee IV, Lee Technologies, CEO and Chairman.
This acquisition is expected to be accretive on earnings per share from the first year and to meet Schneider Electric’s Return on Capital Employed criteria.
About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centres/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, and efficient, the company’s 110,000 plus employees achieved sales of 19.6 billion euros in 2010, through an active commitment to help individuals and organizations “Make the most of their energy.”
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