June 21, 2007 / 5:25 PM / 11 years ago

Eaton to buy Schneider's small systems business for $570 mln

June 21 (Reuters) - Eaton Corp. (ETN.N) said it agreed to buy the small systems business of MGE UPS Systems, a unit of French power and process control equipment firm Schneider Electric (SCHN.PA), for $570 million.

The transaction, which is expected to close in the third quarter, would fill product gaps in Eaton’s uninterruptible power systems single-phase portfolio, the diversified manufacturer said in a statement.

For the 12-month period ending May 31, the small systems business of MGE had sales of about $218 million, the company added. (Reporting by Shailesh Kuber in Bangalore)

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