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GE DIGITAL ENERGY CLOSES DEAL TO ACQUIRE IMV, A EUROPEAN-BASED UPS COMPANY
01 August 2002 - GE Industrial Systems
| GE Digital Energy announced today that it has officially closed the deal to acquire IMV, a European-based world technology leader in the field of power protection based on uninterruptible power supplies (UPS) and associated software. Present in more than 80 countries with a network of professional Business Partners, IMV provides power protection solutions from stand alone UPS to large, distributed networks. Terms of the acquisition were not disclosed. |
With this acquisition, GE Digital Energy acquires an outstanding platform for technology growth with products and services that are complementary to GE Digital Energy's offerings. This action will also accelerate GE Digital Energy's ability to provide customers with power quality solutions that achieve the highest levels of long-term power availability and reliability. GE Digital Energy offers a comprehensive portfolio of products and services to support the Power Quality industry. Its systems group supplies innovative, systems-engineered back-up and active generation packages to Critical Power industries such as high tech manufacturing and Internet infrastructure. 'This acquisition of IMV is key in our gaining a high technology product foundation from which to build a critical power offering,' said Steve Specker, president of GE Digital Energy. 'IMV differentiates GE Digital Energy as we have vertically integrated leading technology and services.' 'We are very excited about this acquisition and the great technology platform IMV brings to GE Digital Energy,' said Antoinette Gawin, president of GE IMV. 'IMV has a great history and a long-standing reputation of supplying leading-edge quality equipment in the European markets. We will continue to promote this outstanding reputation of great technology with a focused effort in North American markets later this year.' About IMV
Headquartered in Riazzino, Switzerland, IMV is a world leader in the field of power protection based around uninterruptible power supplies (UPS) from 500 VA to 4 MVA and monitoring software. It is present in more than 80 countries with a network of subsidiaries and Business Partners, providing advanced solutions for safe & managed power. With over 30 years of experience in development, design and manufacturing of advanced solutions, IMV has over 500 employees and is an ISO 9001 certified company and IBM preferred supplier for EMEA countries.
http://www.geindustrial.com
About: GE Industrial Systems
GE Industrial Systems spans the globe as an industry leader in integrated industrial 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. GE Industrial Systems is comprised of a strong group of business teams including GE Power Controls, GE Digital Energy, GE Security, GE Sensing Solutions, GE Fanuc and joint ventures with Fuji, Toshiba, Hitachi, Cisco and Clipsal.GE Consumer & Industrial was created in January 2004 when GE Consumer Products merged with GE Industrial Systems. Led by President and CEO Lloyd Trotter, GE Consumer & Industrial is a $13 billion global business with 75,000 employees in more than 100 locations. With more than a century of experience inventing cutting-edge products and services, GE Consumer & Industrial strives to make life better, more convenient and more efficient for consumers, as well as commercial and industrial customers. |
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