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June 08, 2006
GE Fanuc Embedded Systems, a unit of General Electric Company (NYSE: GE) has
announced that it has completed the acquisition of SBS Technologies(R) (NASDAQ:
SBSE) of Albuquerque, New Mexico. The integration of SBS Technologies into GE
Fanuc Embedded Systems creates a broad presence in the embedded systems
industry, offering an extensive line of products ranging from embedded boards in
multiple form factors, bus architectures, and fabrics, to fully integrated
systems available in a range of environmental grades.
Under the terms of
the transaction, SBS Technologies shareholders will receive $16.50 in cash for
each share of SBS Technologies common stock.
"Strategically, this
acquisition puts GE Fanuc Embedded Systems in a great position to serve a
variety of customers including those interested in communications,
government/aerospace, medical, semiconductor, industrial, and military systems,"
said Maryrose Sylvester, president and CEO of GE Fanuc. "The combination of the
two companies provides depth and breadth in crucial product areas primed for
growth. In addition, SBS Technologies has an excellent presence in Europe and
Asia, adding to the team GE Fanuc Embedded Systems has in place in those
regions.
"The combination of SBS Technologies with the already robust
product offerings of GE Fanuc Embedded Systems provides us with a dynamic growth
opportunity," continued Sylvester. "I am confident that industry-leading
technology and products will be the end result."
SBS Technologies
designs and builds computer boards and systems that enable sophisticated
products such as industrial robots, military and commercial aircraft, MRI
machines and communication networks. The company produces more than 500
electronic components that can be configured in thousands of different ways.
These products include single board computers, communications and networking
modules, and complete systems. SBS products are designed to open standards such
as CompactPCI(R) (CPCI), VMEbus (VME), PCI, PCI Express(R), PMC, PC/104,
AdvancedMC(TM), and AdvancedTCA(R). SBS Technologies' single board computers are
based on Intel(R) architecture, and PowerPC(R) processors.
SBS
Technologies common stock ceased trading on the Nasdaq at market close on June
6, 2006, and will be delisted. As soon as is practicable, a paying agent
appointed by GE Fanuc Embedded Systems will send information to all SBS
Technologies shareholders of record, explaining how they can surrender SBS
Technologies common stock in exchange for $16.50 per share in cash, without
interest. Shareholders of record should await this information before
surrendering their shares. Shareholders who hold shares through a bank or broker
will not have to take any action to have their shares converted into cash, since
these conversions will be handled by the bank or broker.
About GE Fanuc
Embedded Systems
GE Fanuc Embedded Systems is a leading global provider
of embedded computing solutions for a wide range of industries and applications.
Featuring a comprehensive offering that includes Intel(R) and PowerPC(R)-based
Single Board Computers, networking products, avionics interfaces, rugged flat
panel monitors and complete computer systems, GE Fanuc Embedded Systems can
support the full range of embedded computing needs. GE Fanuc Embedded Systems is
part of GE Fanuc Automation, a joint venture between GE and FANUC LTD of Japan.
For more information, visit www.gefanuc.com/embedded or contact: GE Fanuc
Embedded Systems, 12090 S.
Memorial Pkwy, Huntsville, AL 35803, Phone:
(800) 322-3616, Fax: (256) 882-0859, e-mail: info.embeddedsystems@gefanuc.com.
About GE Fanuc Automation
GE Fanuc Automation, Inc. delivers
automation hardware and software designed to help users reduce costs, increase
efficiency and enhance profitability. With solutions and services catering to
virtually every industrial segment, GE Fanuc Automation provides a diverse array
of capabilities and products, including controllers, embedded systems, advanced
software, motion control, CNCs, operator interfaces, industrial computers, and
lasers.
Headquartered in Charlottesville, VA, GE Fanuc Automation is a
part of GE Industrial and combines the diverse global strengths of the GE family
with the local presence customers need to design, develop and maintain their
automation investments.