Emerson to Buy General Electric’s Intelligent Platforms Business
ST. LOUIS--(BUSINESS WIRE)--Oct 2, 2018--Emerson (NYSE: EMR) today announced it has agreed to acquire Intelligent Platforms, a division of General Electric (NYSE: GE). Intelligent Platforms’ programmable logic controller (PLC) technologies will enable Emerson, a leader in automation for process and industrial applications, to provide its customers broader control and management of their operations. Terms of the deal were not disclosed.
The acquisition expands opportunities for Emerson in machine control and discrete applications across process industries and target hybrid markets, such as metals & mining, life sciences, food & beverage and packaging. By interfacing Intelligent Platforms’ PLC technology with Emerson’s leading distributed control systems, customers will be able to connect “islands of automation” within the plant to further enhance operational performance, safety and reliability.
Both Emerson and Intelligent Platforms are focused on leveraging automation technologies to drive digital transformation in their end markets. Intelligent Platforms recently developed a new family of cloud-connected controllers and devices to enable smarter plants, a strong complement to Emerson’s focus on digital transformation and the Industrial Internet of Things through its Plantweb™ digital ecosystem.
“Adding GE’s Intelligent Platforms business makes Emerson an even stronger player in the automation space and expands our capabilities to serve the needs across process, hybrid and discrete markets,” said Emerson Chairman and Chief Executive Officer David N. Farr. “This is another important investment in our global portfolio of automation technologies, offering discrete and machine control capabilities that complement our process control expertise to provide better solutions to our customers.”
Intelligent Platforms is based in Charlottesville, Va. with approximately 650 employees worldwide and 2017 sales of $210 million. The business has a 25-year track record as an industrial automation innovator for machine control, industrial computing, input/output (I/O) and networking devices, project and integration services and other hardware/software solutions.
“ This transaction enables Intelligent Platforms to be best positioned to pursue its growth strategy, while accelerating our reinvestment in GE Power to develop the energy technologies of the future and provide the world with reliable, affordable electricity , ” said Russell Stokes, President and Chief Executive Officer of GE Power.
“Intelligent Platforms brings a solid product portfolio to serve our target markets, along with a significant installed base,” said Lal Karsanbhai, executive president of Emerson Automation Solutions. “We are extremely pleased to have this unique opportunity to add a recognized discrete control capability to our growing portfolio of products and software applications that help our customers operate more safely and efficiently.”
The acquisition is expected to close in the first half of fiscal 2019, subject to regulatory approvals, GE’s consultation with employee representatives where required and other customary closing conditions.
NOTE: A short slide presentation with additional information is available here.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information visit Emerson.com.
GE (NYSE:GE) drives the world forward by tackling its biggest challenges. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE’s mission and deliver for our customers. www.ge.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include economic and currency conditions, market demand, pricing, protection of intellectual property, competitive and technological factors, and the impact of the Tax Cuts and Jobs Act, among others, as set forth in the Company’s most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.
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