Paris-based Schneider Electric and West Kingston, R.I.-based American Power Conversion Corp. recently entered a definitive merger agreement under which Schneider Electric will acquire all oustanding shares of APC. The combination of the two companies will create a business for both single-phase and three-phase uninterruptible power supply (UPS) systems as well as a provider of integrates systems for IT and data center applications.

The transaction, expected to close in the first quarter of 2007, totals $6.1 billion and is subject to approval by APC shareholders.