The acquisitions of Locus Traxx and PakSense complement our existing Commercial & Residential Solutions portfolio, and enable us to further our leadership in cold chain management and fresh food monitoring. Investing in these businesses expands our technology and services and helps to address the high-stakes need of customers in the agriculture, transport and retail industries to provide safe and consistent fresh food monitoring.
The Pentair Valves & Controls business expands our automation portfolio and enhances our position as an industry leader in control, isolation, pressure relief valves and actuation. With a large base in industries including chemical, petrochemical, oil and gas, power, and others, we have positioned our businesses to grow and provide customers with more complete solutions to their toughest challenges.
In August 2016, we announced the sale of the Network Power business to Platinum Equity and a group of co-investors. Headquartered in Columbus, Ohio, the company is a leading provider of thermal management, A/C and D/C power, transfer switches, services and information management systems for the data center and telecommunications industries. Network Power is rebranding as Vertiv and will operate as a stand-alone global enterprise in Platinum Equity’s portfolio.
In August 2016, we announced the sale of the Leroy-Somer and Control Techniques business units. The divestiture serves as another step in Emerson’s strategic repositioning to restructure and align our business for long-term growth.