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Benzinga
Benzinga
Business
Akanksha Bakshi

Emerson Acquires Denmark-Based Mita-Teknik For Undisclosed Sum

  • Emerson Electric Co (NYSE:EMR) has acquired Mita-Teknik in an all-cash transaction. Financial terms were not disclosed.
  • Denmark-based Mita-Teknik provides software and technologies for wind turbine control, pitch control, wind park control, condition monitoring, communication networks, and grid connections.
  • More than 60,000 wind turbines worldwide are controlled and monitored by Mita-Teknik's solutions.
  • The acquisition expands Emerson's capabilities within the wind power generation market. 
  • Emerson Electric held $2.35 billion in cash and equivalents as of September 30, 2021.
  • Price Action: EMR shares traded higher by 1.76% at $94.35 on the last check Thursday.
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