As a result of this acquisition, which was announced on 21 May 2012, Eaton and Cooper have merged to form a new power management firm called Eaton Corporation plc.
Eaton chairman and CEO Alexander M Cutler stated, "The $13 billion acquisition of Cooper, the largest in Eaton’s 101-year history, is a transformational milestone that expands our market segment reach, broadens our portfolio of products, services, and solutions, and strengthens our global geographic footprint."
Cutler noted that the acquisition of Cooper brings power distribution, smart grid, lighting, lighting controls, wiring devices, and safety solutions capabilities to Eaton.
"These complementary technologies further accelerate Eaton’s growth as a global integrated power management company focused on one of the most challenging megatrends of our time: the rising costs and increasing environmental impact of the world’s growing energy use," Cutler added.
