Expanding its "Smart Grid" Capabilities for Utilities, GE Energy Announces Plans to Acquire MapFrame
ATLANTA, GA - June 2008 : – Further expanding its “smart grid” portfolio of utility transmission and distribution offerings, GE Energy today announced plans to acquire MapFrame of Dallas, Texas, a leading provider of mobile mapping and field automation technologies.
GE Energy and MapFrame shareholders have signed a purchase agreement authorizing the acquisition. Subject to customary closing conditions, the acquisition is expected to close at the end of June. MapFrame serves nearly 30 major utilities throughout North America, with 35,000 end users.
“With its outstanding industry knowledge, software expertise and proven technology, MapFrame is an excellent fit with our overall smart grid initiative,” said Bob Gilligan, general manager of GE Energy’s transmission and distribution business.
GE’s smart grid offerings are designed to help utilities increase productivity and reliability, while also providing consumers with the information to better manage their electricity use and expenses.
“Adding MapFrame’s experience and expertise to our portfolio further expands our capabilities to work with a number of technology platforms, enhancing our ability to support projects across a broad range of applications,” added Gilligan.
“This acquisition is very positive news for all of our customers,” said Paul Wilson, MapFrame founder and chief executive officer. “We are joining a company with great strengths in areas like technology, research and development and commercial operations. GE’s commitment to invest in people and products will greatly increase MapFrame’s capability to bring our innovative technologies to an ever - growing number of customers around the world.”
MapFrame products provide utility employees with real-time information, enabling them to work more efficiently and productively in the field.
When the acquisition is completed, MapFrame’s employees will join GE’s transmission and distribution operations as part of the Smallworld business, a global leader in geographic information systems (GIS) that joined GE Energy in 2000. Smallworld technology supports application products for telecommunications, utility and public systems organizations.
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