On October 1, 2018, GE announced it has signed an agreement to sell the Intelligent Platforms portion of the Automation & Controls business to Emerson, a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. We understand that many of you likely have questions surrounding this recent announcement. GE Intelligent Platforms has provided us with the following letter, press release, and a short slide presentation to explain the acquisition and what you can expect from them during the transition. As we receive more information, we will keep you informed.
Dear KOM Automation Inc.,
On October 1, 2018, GE announced it has signed an agreement to sell the Intelligent Platforms portion of the Automation & Controls business to Emerson, a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Emerson has operations in 130 countries.
The proposed transaction includes GE’s Intelligent Platforms manufacturing facilities in Charlottesville, Virginia; Augsburg, Germany; and Mindelheim, Germany and Bangalore, India; distribution facilities in Brazil, China and Singapore; and global design centers.
The deal will be subject to customary closing conditions such as regulatory review and, in some places, completion of appropriate employee consultation, which we anticipate completing by end of year 2018.
The agreement includes the Intelligent Platforms control system products, Field Agent and edge software and devices, industrial computing, and associated project and integration service segments of our Intelligent Platforms business.
The Mark VIe, exciters, Power Automation Controls, well as the Supervisory Software (CIMPLICITY and Historian) products will remain with GE, however the Intelligent Platforms business will remain as a channel to market for certain products, even post disposition.
We are excited about the opportunity this acquisition will provide to combine our complementary product portfolios, as well as our commercial and supply chain capabilities. Together, industrial controls and Emerson are well-positioned to become the premier automation & control products leader and partner of choice worldwide.
For now, it’s business as usual for our industrial controls team. Until the deal closes, we will continue to operate separate from Emerson. We will also remain focused on serving you. Please be assured that our top priority, every day, is delivering quality products, services and comprehensive solutions for you and your customers.
We look forward to a bright future and continuing our support of your organization and its goals. We will work closely with you throughout this process to communicate any important developments.
If you have any questions about the press release or announcement, please don’t hesitate to contact us.