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® and PowerPC®-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: [email protected].