GE Fanuc Embedded Systems, a unit of General Electric Company
(NYSE:GE) has announced that it has completed the acquisition of
UK-based Radstone Technology PLC. The combination of Radstone with GE
Fanuc Embedded Systems extends the company's line of embedded computer
products that enable prime contractors and original equipment
manufacturers (OEMs) to serve the Military and Aerospace segments.
Under the terms of the transaction, Radstone Technology PLC
shareholders will receive 410 pence per share payable in cash, for a
total consideration of approximately 130.4 million pounds. Radstone is
headquartered in Towcester, UK and operates facilities in Milton
Keynes and Bracknell, UK; Ottawa, Canada; Billerica, Massachusetts and
Centennial, Colorado, USA.
"Radstone's product set is complementary to the capabilities we
have been building to better serve the Military and Aerospace
segments," said Maryrose Sylvester, President and CEO of GE Fanuc.
"Radstone's valuable technical capabilities, expertise and industry
knowledge are extremely attractive to customers. And, both companies
share similar values around quality, service and reliability,
innovation and operational excellence."
"The combination of Radstone's rugged, high-performance COTS
products with the already extensive product offerings of GE Fanuc
Embedded Systems provides us with a dynamic growth opportunity," said
Rob McKeel, Vice President of GE Fanuc Embedded Systems. "We are
confident that customers will appreciate the superior level of service
and industry-leading technology and products for defense and aerospace
applications our combined companies will provide."
"As part of a bigger team with a broader product and service
portfolio, we will be able to improve our offerings to meet the needs
of customers," said Jeff Perrin, Chief Executive for Radstone
Technology PLC. "The exciting thing about being part of GE Fanuc
Embedded Systems is that we will have more opportunities for success."
About GE Fanuc Embedded Systems
GE Fanuc Embedded Systems is a leading global provider of embedded
computing solutions for a wide range of industries and applications.
Featuring a comprehensive offering that includes Intel(R) and
PowerPC(R)-based Single Board Computers, sensor processing networking
products, avionics interfaces, rugged flat panel monitors and complete
computer systems, GE Fanuc Embedded Systems can support the full range
of embedded computing needs. GE Fanuc Embedded Systems is part of GE
Fanuc Automation, a joint venture between GE and FANUC LTD of Japan.
For more information, visit www.gefanucembedded.com or contact: GE
Fanuc Embedded Systems, 7401 Snaproll NE, Albuquerque, NM 87109,
Phone: 800-875-0600, Fax: 505-798-1400; email:
info.embeddedsystems@gefanuc.com.