PLAINVILLE, Conn.--(BUSINESS WIRE)--Nov. 18, 2002--
GE continues rapid growth in $20 billion global electronic security products market
GE Industrial Systems, a division of General Electric Company (NYSE: GE), and Infographic Systems, a privately held company, announced today that GE has acquired Infographic Systems.
Infographic Systems is a leading provider of access control products and systems for electronic security and premise management. The company is headquartered in Garden Grove, CA.
The strength of Infographic Systems product portfolio includes electronic access control, alarm monitoring, facilities control, photo badging and video imaging offerings.
The company's products feature interchangeability of field devices such as card readers, field panels, and remote alarm input and output devices, allowing the user to upgrade system controllers, as the system requirements grow.
GE is continuing its rapid expansion in electronic security, a $20 billion industry with robust growth ahead of it for the future, said Lloyd Trotter, president and CEO, GE Industrial Systems.
Infographic Systems brings to GE expanded product offerings for electronic access control and premise management, and is a great complement to our GE Interlogix technologies.
Our products and technologies contribute to improved safety for people and security for the facilities where they live, work and play, said Joseph Maskrey, president, Infographic Systems
Infographic Systems products and technology is a great fit with GE's strong brand and reputation for trust, growth and innovation. We are looking forward to growing with GE.
With the products from Infographic Systems, we can now offer our customers a much broader portfolio of GE electronic, access control solutions to help protect people, properties and workplaces, said Kenneth Boyda, president and CEO, GE Interlogix, Inc.
Infographic Systems will become a part of GE Interlogix, Inc., a unit of GE Industrial Systems, based in Plainville, Conn. Terms of the transaction were not disclosed.
USBX Advisory Services LLC, initiated this transaction and served as the exclusive financial advisor to Infographic Systems.
About GE Industrial Systems
GE Industrial Systems spans the globe as an industry leader in integrated industrial, electrical and security equipment, systems and services. The business brings to customers the latest technological products used to distribute, protect and control electrical power and equipment, and provides innovative product and service solutions for commercial, industrial, residential and utility applications.
For more information visit the website at www.GEindustrial.com.
About Infographic Systems
Infographic Systems first began supplying access control systems to the security industry in 1978. The company is a technology leader, having been the first to introduce 32-bit application software for access control, and the first to implement an Enterprise (Multipl Server) software solution for access control.
For more information, please visit the company's website at www.infographicsystems.com.
This news release contains forward-looking statements. The following factors, among others, could cause the actual results of the acquisition to differ materially from GE Industrial System's expectations: the ability to timely and fully realize the expected cost savings and revenues; competition; changes in economic conditions.
GE Industrial Systems does not assume any duty to update forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual result to differ materially.
Such statements are based on information available as of the date hereof, and are made only as of the date hereof. To the extent that such statements relate to the proposed acquisition referred to in this release, there is a risk, among others, that the transaction might not be completed.
--30--db/in*
CONTACT: GE Industrial Systems
Terry Dunn, 860/747-7397
[email protected]
or
Infographic Systems
Joseph Maskrey, 714/890-0083