Numeric Power to sell UPS business to Legrand for Rs837 crore
11 February 2012
Chennai-based Numeric Power Systems has agreed to sell its uninterrupted power supply (UPS) business to French industrial group Legrand, for Rs837 crore.
This is the second major deal carried out by the Limoges, France-based company in India, after it acquired the switchgear division of Indo Asian Fusegear Ltd in 2010, for Rs600 crore.
Indo Asian Electric Pvt Ltd, a wholly owned subsidiary of Legrand, will acquire Numeric Power's UPS business in India, Sri Lanka and Singapore, which generates Rs525 crore of the group's total turnover of Rs530 crore.
Numeric Power chairman R Veeramani said that post-sale, Numeric Power would continue to manage the UPS business for Legrand.
Founded in 1984, Numeric Power is one of the single largest sources for a wide range of power solutions with sales and service network in over 259 locations both in India and overseas and manufacturing plants in eight locations, including Chennai, Pondicherry, Parwanoo and Colombo.
Its UPS systems have been installed in more than 75 per cent of ATMs in India.