Emerson Completes Acquisition of General Electric’s Intelligent Platforms Business
ST. LOUIS--(BUSINESS WIRE)--Feb 1, 2019--Emerson (NYSE: EMR) today announced it has completed the purchase of Intelligent Platforms from General Electric (NYSE:GE). The addition of Intelligent Platforms programmable logic controller (PLC) technologies will enable Emerson, a global leader in automation for process and industrial customers, to expand its capabilities in machine control and discrete applications.
Intelligent Platforms, with its portfolio of cloud-connected controllers and devices for smart plants, will serve as a strong complement to Emerson’s industry-leading Plantweb™ digital ecosystem. Through this expansion, Emerson is growing opportunities across process and discrete industries as well as hybrid markets such as metals and mining, life sciences, food and beverage, and packaging.
Intelligent Platforms is based in Charlottesville, Va. with approximately 650 employees worldwide and 2017 sales of $210 million.
Click here to view the original acquisition announcement and accompanying presentation or go to emerson.com/en-us/investors. Emerson plans to address the financial impact of this acquisition within its first quarter earnings release and conference call scheduled for February 5, 2019.
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.
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, cybersecurity, tariffs, 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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KEYWORD: UNITED STATES NORTH AMERICA MISSOURI VIRGINIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT ELECTRONIC DESIGN AUTOMATION SOFTWARE MANUFACTURING ENGINEERING OTHER MANUFACTURING
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PUB: 02/01/2019 07:00 AM/DISC: 02/01/2019 07:01 AM