Eaton has bought out many companies over its more than 100 year history, growing from an axle manufacturer into a global power management giant through acquisitions. Some of its most significant acquisitions include Cooper Industries in 2012 for 11.8 billion dollars, which was its largest acquisition and gave it a major presence in electrical equipment and moved its legal domicile to Ireland. Eaton also acquired Cutler-Hammer in 1978, which became the foundation of its electrical business. It acquired Westinghouse's distribution and controls business in 1994, Aeroquip-Vickers in 1999 for aerospace and hydraulics, and Moeller Group in Germany in 2008 for electrical components. In recent years, Eaton acquired Tripp Lite in 2021 for 1.65 billion dollars to expand its data center power business, and Souriau-Sunbank connection technologies. Eaton has also divested some businesses, like its automotive hydraulics division. The company has a long strategy of buying complementary electrical, aerospace, and vehicle businesses to expand its portfolio. So there is not one single company Eaton bought out; it has acquired dozens, with Cooper Industries being the most transformative, turning Eaton from a diversified industrial company into a dominant electrical power management company competing with Schneider Electric and Siemens.
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