PLAINVILLE, Conn.--(BUSINESS WIRE)--June 18, 2003--GE Industrial Systems, a $6 billion unit of the General Electric Company (NSYE: GE) announced today it has acquired Monitoring Automation Systems, providers of automation software for central security station monitoring and secure business communications.
The Irvine, California-based company is privately held. Monitoring Automation Systems products support fire, medical, intrusion and other central station monitoring activities.
Monitoring Automation Systems product portfolio includes wireless and GPS communication tools, including asset tracking, video and control integration products for false alarm reduction, and web-based services for premise management.
GE security technologies are used by many of the world's largest companies and also by individual homeowners, many of whom rely on GE central station monitoring customers to help protect the public and provide peace of mind, said Lloyd Trotter, president and CEO, GE Industrial Systems.
As the world's security challenges become more complex, GE continues to improve its portfolio of solutions to help protect people and property.
Monitoring Automation Systems' technologies will help us to offer new security solutions and to expand our customer base, said Kenneth Boyda, president and CEO, GE Interlogix, Inc., GE's security business. MAS products will help GE bring to customers new solutions to improve operating productivity, and to increase system functionality including critical event detection and enhanced alarm verification capability.
GE is a very strong and trusted brand and in the world of security, trust is everything, said Steve Keefer, president and CEO of Monitoring Automation Systems. We are excited to become a part of the GE family and we are looking forward to further advancements that we can make together in providing GE's customers with solutions to the issues facing security services providers in today's environment, said Keefer.
Monitoring Automation Systems will become a part of GE's Security and Life Safety business within GE Interlogix, Inc. Terms of the transaction were not disclosed.
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 technologies that are used to distribute, protect and control energy and equipment, and to provide premise management.
GE provides innovative product and service solutions for commercial, industrial, residential and utility customers.
For more information visit the website at: http://www.geindustrial.com.
Editors: For more information and photography about GE Industrial Systems products that help provide peace of mind and protection for people, their properties and workplaces, please visit our online media center at: http://www.geindustrial.com/presscenter/
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 RESULTS 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.
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CONTACT: GE Industrial Systems
Terry Dunn, GM, Global Communications & Public Affairs
Tel: (860) 747-7397
Email: [email protected]
or
Monitoring Automation Systems, Inc.
Steven Keefer, President
Tel: 949-7377849
Email: [email protected]