Deal closes for GE Intelligent Platforms; company steps out officially as Abaco Systems
HUNTSVILLE, Ala., 8 Dec. 2015. Executives of Abaco Systems in Huntsville, Ala., announced Monday they have separated officially from the General Electric Co. and begin operations as an independent embedded computing company reporting to owner Veritas Capital in New York.
Abaco, formerly GE Intelligent Platforms, specializes in sophisticated open-architecture electronic systems for aerospace, defense, and industrial applications. Veritas Capital announced its acquisition of GE Intelligent Platforms last September.
"This is a momentous day for Abaco Systems," says Abaco President and CEO Bernie Anger. "Today, we start the next stage in our company's future -- pursuing a strategy focused on satisfying the needs of customers looking for high-performance embedded technology and systems that can withstand the harshest of conditions."
Abaco will continue building on the embedded computing reputation built under the GE Intelligent Platforms banner, and before that of Radstone Technology PLC, SBS Technologies, VMIC, and RAMiX.
"We see real opportunity to take our extensive experience, mission-critical technology, and the repeatable business processes we have developed to continue building a business that combines a commitment to technical innovation with extreme focus on customer service, Anger says. "The good news for our customers is that, from day one, it is business as usual."
Customers have been notified of the change in ownership and have welcomed the news of the new Abaco Systems. Feedback from customers has been positive, Abaco officials say.
"We're looking forward to the continued relationship and working with Abaco as we progress forward on new projects," says Rance Myers, director of engineering at Honeywell Aerospace.
Mark Gaertner, manager of bomber programs at Northrop Grumman Corp. says the Veritas leadership of Abaco Systems is good for Northrop Grumman and good for the U.S. Air Force. "e need stability in our products and suppliers for programs that stretch out over the next 25-plus years," Gaertner says.