Benzinga | Dec 16, 2021 01:21PM EST

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.