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Danfoss to acquire Eaton's hydraulics business

Kim Fausing, Danfoss President and CEO
Kim Fausing, Danfoss President and CEO

Danfoss has entered into an agreement to acquire Eaton's Hydraulics business. 

The cash purchase price is 3.3 billion USD.

"Today, we take a significant and transformational step in creating a global leader in mobile and industrial hydraulics. It is a once-in-a-lifetime opportunity to combine our largely complementary portfolios and geographic footprints. Eaton Hydraulics is a highly respected player in the global industry, recognized for its dedicated people and strong brands. By combining the knowledge and experience of the two businesses, our customers will benefit from unmatched expertise from a single partner. With this agreement, we continue to invest in our core hydraulics business and digital solutions to stay a strong technology partner," says Kim Fausing, Danfoss President and CEO.

"We believe Eaton's Hydraulics business will benefit greatly from being part of a company that has hydraulics at its core," says Craig Arnold, Eaton Chairman and CEO. "When complete, this deal will bring together two talented teams with deep hydraulics knowledge and expertise. And Eaton's hydraulics team will be part of a company that is committed to becoming a global leader in mobile and industrial hydraulics. The combined business will also benefit customers and distributors by offering industry-leading technology and a much broader portfolio of hydraulic solutions."   

Eric Alström, President of Danfoss Power Solutions

The acquisition will enable Danfoss to enter the industrial hydraulics market that is served by Eaton Hydraulics.

The transaction is subject to closing conditions and regulatory approvals. It is expected to close by the end of the year. 

Company info

2800 East 13th Street
Ames, IA
US, 50010

Website:
danfoss.com

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9650 Jeronimo Road
Irvine, CA
US, 92618

Website:
eaton.com

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