
9 Aug 2001
GE DIGITAL ENERGY CLOSES DEAL TO ACQUIRE IMV, A EUROPEAN-BASED UPS COMPANY
Atlanta, GA – July 31, 2001 -- GE Digital Energy announced today that it has officially closed the deal to acquire IMV, a European-based world technology leader in the field of power protection based on uninterruptible power supplies (UPS) and associated software. Present in more than 80 countries with a network of professional Business Partners, IMV provides power protection solutions from stand alone UPS to large, distributed networks. Terms of the acquisition were not disclosed.
With this acquisition, GE Digital Energy acquires an outstanding platform for technology growth with products and services that are complementary to GE Digital Energy’s offerings. This action will also accelerate GE Digital Energy’s ability to provide customers with power quality solutions that achieve the highest levels of long-term power availability and reliability. GE Digital Energy offers a comprehensive portfolio of products and services to support the Power Quality industry. Its systems group supplies innovative, systems-engineered back-up and active generation packages to Critical Power industries such as high tech manufacturing and Internet infrastructure.
“This acquisition of IMV is key in our gaining a high technology product foundation from which to build a critical power offering," said Steve Specker, president of GE Digital Energy.
“IMV differentiates GE Digital Energy as we have vertically integrated leading technology and services."
"We are very excited about this acquisition and the great technology platform IMV brings to GE Digital Energy," said Antoinette Gawin, president of GE IMV. "IMV has a great history and a long-standing reputation of supplying leading-edge quality equipment in the European markets. We will continue to promote this outstanding reputation of great technology with a focused effort in North American markets later this year."
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About GE Digital Energy
GE Digital Energy (http://www.gepower.com/digital_energy/) is focused on delivering premium power solutions to the digital economy. It is backed by the global resources of General Electric Company, providing customers with years of proven experience in product technology and innovation, a global services infrastructure and financial services capabilities. GE Digital Energy offers a single point of contact to build, commission, operate and maintain premium power facilities.
About IMV
Headquartered in Riazzino, Switzerland, IMV (http://www.imv.com) is a world leader in the field of power protection based around uninterruptible power supplies (UPS) from 500 VA to 4 MVA and monitoring software. It is present in more than 80 countries with a network of subsidiaries and Business Partners, providing advanced solutions for safe & managed power. With over 30 years of experience in development, design and manufacturing of advanced solutions, IMV has over 500 employees and is an ISO 9001 certified company and IBM preferred supplier for EMEA countries.
For more information: http://www.imv.com/switzerland/