Veritas to buy embedded business from General ElectricStaff writer ▼ | December 14, 2015
Veritas Capital said that an affiliate of Veritas has signed a definitive agreement to acquire the embedded technology and systems business from General Electric.
Acquisition A supplier of defense systems to be sold
The Embedded Systems’ broad product portfolio employs various highly engineered, patented and high-performance commercial computing technologies to address advanced size, weight and power challenges that are common to rapidly evolving aerospace, defense, and industrial applications and programs.
These rugged products are designed to withstand harsh environments such as extreme temperature, high vibration and exposure to natural elements.
The business is headquartered in Huntsville, AL 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, AL. Existing senior management will continue to lead the business. ■