APC by Schneider Electric, formerly known as American Power Conversion Corporation, is a manufacturer of uninterruptible power supplies, electronics peripherals and data center products. In 2007, Schneider Electric acquired APC and combined it with MGE UPS Systems to form Schneider Electrics Critical Power & Cooling Services Business Unit, which recorded 2007 revenue of $3.5 billion (EUR 2.4 billion) and employed 12,000 people worldwide. Until February 2007, when it was acquired, it had been a member of the S&P 500 list of the largest publicly traded companies in the United States. Schneider Electric, with 113,900 employees and operations in 102 countries, had 2008 annual sales of $26 billion (EUR 18.3 billion). In 2011 APC by Schneider Electric became a product brand only, while the company was rebranded as the IT Business Unit of Schneider Electric.