Veritas Capital to Buy GE’s Embedded Systems Business

Veritas Capital, a private equity firm, announced that an affiliate of Veritas has signed a definitive agreement to acquire the embedded technology and systems business ("Embedded Systems" or the "Business") from General Electric Company. Terms of the transaction were not disclosed.

GE's Embedded Systems business is a supplier of electronic systems for aerospace, defense, and industrial solutions, currently operating within GE Energy Management (Intelligent Platforms subdivision). The Embedded Systems' product portfolio employs various engineered, patented commercial computing technologies to address size, weight and power challenges that are common to rapidly evolving aerospace, defense, and industrial applications and programs. These products are designed to withstand harsh environments, such as extreme temperature, high vibration and exposure to natural elements. The Business is headquartered in Huntsville, Alabama with five facilities globally, including three in North America and two in Europe, and has approximately 700 employees worldwide.

The transaction is anticipated to close in the fourth quarter. Upon closing, GE's Embedded Systems business will be renamed and operate as an independent company at its current headquarters in Huntsville, Alabama. Existing senior management will continue to lead the Business.

Keywords: Embedded Technology, Open Architecture Electronic Systems, Industrial Solutions, ARC Advisory Group.