Eaton Corp., a global intelligent power management company, is acquiring Austin-based Resilient Power Systems.
Founded in 2015, privately held Resilient manufactures energy products including electric vehicle charging stations.
Eaton said it’s aiming to expand its power distribution business and that Resilient’s high-power direct current applications for the EV market could be applied to data centers and other applications to improve sustainability and reliability.
“There’s huge opportunity for future applications in data centers, port electrification and battery energy storage,” Mike Yelton, Eaton president overseeing the electrical sector for the Americas region, said in a statement. “By leveraging Eaton’s manufacturing capabilities, field service organization and commercial scale, we’re confident we can expand the market for this innovative technology to data center and other customers looking to move faster, minimize costs and improve power distribution efficiency and reliability.”
The deal is expected to close in the third quarter. No terms were disclosed.
Eaton is a billion-dollar energy company headquartered in Dublin, Ireland. The company has a small presence in North Austin. Resilient is led by CEO Tom Keister and President Josh Keister.
Neither Resilient nor Eaton have not responded to requests for comment or provided additional details on their agreement.
After the deal was announced Wednesday, Eaton shares were flat but gained Thursday and Friday to finish the week up about 4%. They were down nearly 1% Monday.
This article originally appeared on Austin American-Statesman: Eaton Corporation to acquire Austin-based Resilient Power Systems
Reporting by Karoline Leonard, Austin American-Statesman / Austin American-Statesman
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