GE has announced that it is intending to acquire Shannon company FMC Tech.
GE is one of the biggest companies in the world and Bob Gilligan CEO-digital energy for GE Energy Services, welcomed the move.
“With the acquisition of FMC Tech’s portfolio, GE will be able to provide a new level of grid intelligence to utilities, improving decision-making and streamlining operations with real-time information on power outages and available capacity on power lines.”
He said the move should drive quicker development of technology.
“FMC-Tech’s expertise in online power management and fault detection combined with GE’s distribution management expertise will drive faster technology development, implementation and broader-based solutions, which will enable a broader portfolio of utility management solutions.”
FMC Tech will become part of GE Energy Services Digital Energy Smart Substation business and all employees will remain in Ireland.
The acquisition is expected to be completed by July.
FMC-Tech Ltd, was set up in August 2001 for the purpose of developing a new network management system, the Crystal System, for medium-voltage overhead electricity networks.
The development brief was to provide a complete solution to improve customer satisfaction and meet regulatory demands both present and future by delivering network intelligence, while at the same time reducing costs.
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