GE COMPLETES ACQUISITION, INTERLOGIX BECOMES GE INTERLOGIX INC.
GE Industrial Systems, a division of General Electric Co. (GE), announces the completion of its acquisition of Interlogix Inc. GE’s acquisition accounts for roughly 95 percent of Interlogix shares.
GE has merged Interlogix into a wholly owned subsidiary of GE. Stockholders were given the right to receive $19.43 in cash and 0.5174 of a share of GE common stock for each share of common stock of Interlogix. The business is now known as GE Interlogix Inc.
Ken Boyda, president and CEO of Interlogix remain in his role, while reporting to Lloyd G. Trotter, president and CEO of GE Industrial Systems.
Trotter says, “With this acquisition, GE acquires a strong global company that will provide us with leading-edge technology in the exciting security arena, offering us an attractive new platform to enhance our continued growth. These innovative technologies will be particularly important as the demand for security products and systems continues to increase. These products offer an exciting complement to many of the industrial components already manufactured by our business, and will allow us to better serve our customers with a broader, more diversified portfolio of products, systems and services to meet their needs.”
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