GE Intelligent Platforms to be renamed Abaco Systems; acquisition set to close Monday

HUNTSVILLE, Ala., 17 Nov. 2015. Embedded computing specialist GE Intelligent Platforms is changing its name to Abaco Systems as a result of the company's acquisition last September by New York-based private equity firm Veritas Capital.

Deal closes for GE Intelligent Platforms; company steps out officially as Abaco Systems
Deal closes for GE Intelligent Platforms; company steps out officially as Abaco Systems
HUNTSVILLE, Ala., 17 Nov. 2015.Embedded computing specialist GE Intelligent Platforms is changing its name to Abaco Systems as a result of the company's acquisition last September by New York-based private equity firm Veritas Capital.

Rebranding the company's embedded computing products and systems to the Abaco Systems name begins immediately, as company officials target 23 Nov. 2015 for closing the acquisition and transferring ownership from General Electric Co. to Veritas Capital.

General Electric officials announced in September that they are selling the General Electric embedded computing business based in Huntsville, Ala., known as GE Intelligent Platforms, to Veritas Capital.

Bernie Anger, now general manager of GE’s Intelligent Platforms, will continue to lead the embedded computing business for Veritas. "Embedded computing has been a very good business for GE, but it did not fit closely in the infrastructure focus of GE," Anger told Military & Aerospace Electronics in a recent interview.

"Our view going forward is building-in the DNA we have in the embedded computing business," Anger says. "We will have a laser-focus on customer service in the embedded space -- from LRIP to retirement."

Related: GE sells off embedded computing unit; sale to make the business nimbler, faster, more agile

The embedded systems business has been part of GE largely since 2006 when GE acquired leading embedded computing companies Radstone Technology PLC and SBS Technologies. Earlier GE had acquired embedded computing companies VMIC in 2001 and RAMiX in 2003.

"Our longest-shipping board has been shipping for 30 years," Anger says. "We have been at the board level for a long time, and are looking at opportunities at the box level, with better customer service throughout the product life cycle."

GE Intelligent Platforms has been part of the GE Energy Management segment. Veritas Capital invests in companies that provide products and services to government and commercial companies worldwide.

Terms of the transaction have not been disclosed. Upon closing, GE’s embedded systems business will be renamed Abaco Systems, and will operate as an independent company at its current headquarters in Huntsville, Ala.

For more information contact GE Intelligent Platforms online at www.geautomation.com, or Veritas Capital at www.veritascapital.com.

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