GE Infrastructure has now completely acquired Edwards Systems Technology, a fire detections systems manufacturers that was previously part of SPX Corporation.
"GE Infrastructure is rapidly becoming the premier security provider and acquiring Edwards positions us as a leader in the $5 billion fire detection and life safety segment," said Bill Woodburn, president and CEO of GE Infrastructure, in a prepared statement. "By combining Edwards' technology and channel strength with the broader security offering of GE, we can now offer an integrated facility management solution. We see significant revenue and cost synergies with this combination, and expect the acquisition to be accretive to GE's 2005 earnings."
Ken Boyda, president and CEO of GE Infrastructure's Security business, said that the industries are following "a convergence of technologies in the security arena," and he added that adding fire and life safety technology to the GE produt line was part of that convergence.
"Since fire detection systems are the only universally mandated security technology," said Boyda in a statement to the press, "there is significant opportunity for us to grow sales in complementary areas like access control, video surveillance and related services for commercial and large scale infrastructure projects."
Edwards will join GE Infrastructure, Security's Engineered Systems business.